the rich are already taxed at a high level - Comment - Israel News | Haaretz Daily Newspaper
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    • zionist forever
    • 28.10.12 | 10:53 (IST)

    The top range of income tax in Israel is 48% and that is up from 45% last year ( how much can the state FAIRLY ) take from the rich? Shelly Y should also remember the very rich are the ones able to hire clever accountants to help them hide their taxable earnings or they can invest abroad which takes money out the country and it cannot be taxed full stop. VAT at 17% is actually very low the average VAT rate around the world is 20%+. There might be a case for making certain items tax deductible like certain foods & children's clothing but VAT is at a fair level. You certainly can't start raising corporation taxes because if you do the result will be a rise in unemployment as companies make up their losses by hiring fewer people or they will raise their prices so they make more profit to make up for what they are losing in taxes so raising corporation taxes hurts the little guy who loses their job most not the company. The rich are not the evil oppressors the left & social justice army have tried to make them out to be they are just fortunate because they managed to reach to top. In a country like the US the rich would be told congratulations for making it to the top but in Israel we condemn them for being so rich and want to punish them for being so rich when the rest of us are not. Since Shelly Y wanta to be pro big business but at the same time social justice ( anti big business ) I would love to know how she balances it because you cannot be extreme left which she is, support social justice ( taking from the rich ) and still support free market. The social justice crowd want government intervention to bring down house prices so how is the government going to be pro social justice and do that? Shelly Y is a snake oil salesman who wants to be everything to everybody which is why she is trying to recruit famous faces and saying she is not anti big business and free market but she is pro social justice. If she wins the election there are going to be alot of people who are very disappointed and feel she has not turned out to be the person they thought they were voting for and she may end up damaging the economy if she runs it in a POPULAR way rather than a responsible one and all signs are she wants to do the popular because responsible just doesn't go down well amongst the left especially amongst the social justice crowd.

    from the article: Labor leader to TheMarker: I'm in favor of free market and competition, but that's not the case in Israel
    First published 03:28 28.10.12 | Last updated 03:28 28.10.12
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