"Jewish people are no longer immigrating to their Promised Land. The lure of their ancient homeland-the land of Abraham, Isaac, and Jacob, of Moses and the Tribes of Israel-has been overshadowed by the economic drag of the socialist policies espoused by all political parties. For the past decade, the net immigration of Jews to Israel is a minus. More Jews are leaving Israel than are entering. Israel's decline begins with excessive, dumb taxes, which are too high for companies as well as individuals.As can be expected, these tax rates create large disincentives to economic growth and enterprise and yield little revenue. In short, Israel's tax code distorts prices and discourages work, savings, and investments. It also encourages the more enterprising Jews to emigrate to gentler tax climes.
The state-owned enterprises and kibbutzim, which form the backbone of Israel's industrial and agrarian economics, are inefficient and act as drag on the economy."
Topic: What socialism brings to Israel? (Read 415 times)