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Feb 10, 2022

benefits for some, not all

Yesterday, Finance Minister Avigdor Lieberman, along with other members of government (including Prime Minister Bennett) announced a plan to slow the rise of the cost of living, or lower the cost of living or however you might want to put it. The plan largely includes the lowering of taxes on additional imports in various spaces, giving tax benefits to young working parents  and some additional adjustments.

Of course, no matter what this government does, some will say it is too little too late, or it is not helping the right people or it is an even ineffective decision, or other complaints.

From what I understand, the benefits of this announced plan are largely going to benefit the middle class. The middle class pays the most in taxes and generally gets the fewest benefits - almost every time a plan is put together it is to help the lower class who always need more help. The middle class just keeps paying taxes and working and paying more taxes. 

I see no problem with a financial plan to help the middle class that does not also help the lower class. There have been and will be other plans that will help other groups at other times. The representatives of other groups are screaming that it doesnt help their people, but the truth is that it isnt intended to and that is ok - the other groups discussed get lots of tax benefits and financial support in many other areas. That one is being floated that doesnt apply to them is perfectly ok.

Everyone will benefit from lower prices - lower cost of coal so electricity price increase will be cut, lower prices on many imported goods, possibly lowered tax on gasoline if they come to an agreement on that, etc but the specific income tax plan is for the middle class and I see nothing wrong with that - just the opposite. 

I think it is about time the middle class got a decent tax benefit. And I wont even really benefit much from it personally, as almost all my children are older than the age range defined for the benefit. 



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