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Tuesday, October 18, 2011

Israel Raises Taxes on the Rich


Another tidbit from Mother Jones. Nine days ago the Israeli cabinet responded to several months of demonstrations about the high cost of living and so they agreed to increase taxes on corporations and folk with high incomes. Now here is the fun part, high incomes include folk who annual incomes is over $130,000 a year. Wow!

They also decided to cut their defense budget by 5%, 850 million over the next couple of years. Bear in mind that we pay 18% of their military budget. Looks like a good cost cutting place for us as well.

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