Israel's rich rightly earned their criticism - Comment - Israel News | Haaretz Daily Newspaper
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    • Micheal Humphries
    • 12.06.11 | 15:43 (IDT)

    Yossi Melman makes some appropriate criticisms, but misses on one of them. He points out that the US's wealthy donate more to charity than Israel's do, as a percentage of income. It's true, but for cause. Under the the US tax code, one can make unlimited donations and deduct them from your taxable income. This allows billionaires to donate substantiall amounts of money. In Israel, the tax code limits deductable donations to NIS 7.5 million per year. Don't assume that America's wealthy are generous without encouragement. Israel's wealthy might give more as well, if the tax code wasn't so stingy.

    from the article: Israel's rich rightly earned their criticism
    First published 01:33 12.06.11 | Last updated 01:33 12.06.11
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