With the whole world moving quickly towards socialism, and with government printing presses working 24/7 in order to help print enough money to keep up with all the spending, in Israel the opposite is about to take place. The victory of Benjamin Netanyahu will usher in an era of tax cuts, and less government intervention in the daily lives of citizens, allowing the free market to work as it should.
We will actually have a real life ‘Battle of economic philosophies.’ Keep in mind that the US entered economic Armageddon a full year and a half before Israel did, so first in first out may apply here, but we may get a real feel on which economic system works better.
According to a Bloomberg report: "There will be a certain amount of deterioration before we can turn around the economy’s direction,” Netanyahu said Feb. 23 at a meeting of Likud lawmakers. “We face an economic crisis that we haven’t seen in many years.” Netanyahu, 59, has vowed to lower Israeli taxes as he did as finance minister. He also promised during the campaign to liberalize the real-estate market, saying the Israel Land Administration’s near-monopoly inflates housing costs.
If I was a betting man, I’d take the Netanyahu tax cutting and privatization plan heads down over Obama’s tax hikes, and nationalization of industry.
Netanyahu always said tiny Israel would become one of the world’s richest nations. Everyone used to scoff. Now if tax cuts boost economic activity, Israel will truly turn into a ‘ light unto the nations.’
