Israel’s Key Role in American Economies
As you know, I’m currently traveling.
Right now I’m in Israel which has been the focus of many of my Daily Prophecies. Just yesterday I talked about one of the biggest issues in Israel: tax rates.
I discussed how they have some of the highest income tax rates in the world. At a rate of 60% on top incomes, they drive high earners out of the country and increase the tax load on all the remnant people who stay.
But even under these circumstances Israel is still one of the world’s leading economies.
You see, similar to the US during the 1990s, all the revenue flows through the capital gains tax. This rate is 25% and in Israel adjusted annually for Consumer Price Index (CPI) inflation (which as all of you students of time-prices know is bogus). In a capitalist economy with growth as learning, inflation is non-existent except in the cost of government and its exactions.
I thought today would be a good opportunity to share one of my lectures from the Fall 2016 Economics, Growth and Prosperity Seminar. Here I discuss Israel’s key role in the world and American economies.
You can click here to view the lecture or simply click on the image below.
Editor, Gilder’s Daily Prophecy