Likud chairman MK Benjamin Netanyahu said, “The way to help the poor is to cut taxes on the rich, which will increase the state’s tax revenues.” He made the comment at the Ra’anana conference on national high-tech policy.
“The key is to create a free economy with a social attitude that really helps the poor rather than the fake poor. If we’re so smart, why aren’t we rich?” Netanyahu asked the audience, before answering his own question: “Although we have high-tech and science in Israel, the economy isn’t free enough.”
Netanyahu said, “High-tech without a free economy won’t go anywhere. The main engine is the degree of freedom. The rapid growth we’re seeing in China and India is because they’re switching from a closed economy to an open economy. If we cut taxes, we won’t increase the deficit. On the contrary, we’ll get more revenues. If we cut taxes, fewer people will flee to Ireland, Romania and Spain.”
Netanyahu declined to answer the question that most intrigued his audience: whether he considered himself a candidate as the next finance minister. The reason is that the conference’s emcee, the mayor of Ra’anana did not let him answer. However, Netanyahu did manage to say, “With the help of God, we’ll one day continue with what we started.”
Published by Globes [online], Israel business news - www.globes.co.il - on June 26, 2007
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