Netanyahu to lower taxes, despite economic slowdown

Thursday, March 05, 2009 |  Israel Today Staff  

Taking a page out of Ronald Reagan's economic playbook, incoming Israeli Prime Minister Benjamin Netanyahu on Thursday vowed to lower personal income and corporate taxes as one of his first acts upon taking office.

Netanyahu told reporters that the foundation of his economic plan will be boosting consumer spending and private sector businesses by slashing taxes for low and medium income earners and for small businesses.

The move is contrary to the recommendations of current Treasury and Bank of Israel officials.

Netanyahu, who studied at MIT and Harvard and lived a good portion of is life in the US, is intimately familiar with the American economic system and is a devout disciple of "Reaganomics."

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