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Editorial
April 22, 1949
The Phoenix Jewish News
Phoenix, Maricopa County, Arizona
What is this article about?
Milton Friedman's 1949 column highlights US attention to Israel's successful interest-free bond lottery for inflation control, similarities in taxation systems, and the recent increase in Jewish Democratic congressmen, including Rep. Louis D. Heller elected February 15.
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U. S. Notes Success of Israel Lottery
(EDITOR'S NOTE: Boris Smolar, whose column, "Between You and Me", ordinarily appears on this page, is on vacation.)
By Milton Friedman
(Copyright, 1949, Jewish Telegraphic Agency, Inc.)
WASHINGTON — A national lottery in Israel to sell government bonds which pay no interest has attracted widespread attention here.
Treasury Department insiders have expressed amazement at the lottery which is rapidly draining inflation money in Israel. The Israeli plan is being observed by congressmen, some of whom have for years advocated public lotteries to stimulate bond sales.
A recent editorial in the Washington Times-Herald urged that the United States adopt Israeli Finance Minister Eliezer Kaplan's lottery idea. The editorial ridiculed a series of raids directed by U. S. District Attorney Morris Fay against small-time gamblers in the District of Columbia, including bookies and numbers rackets people. It was entitled, "Mr. Fay Makes The Raids, Israel Makes The Money." Advocating an American public lottery to turn gambling to useful channels, the editorial intimated that the U. S. could learn from Israel.
OTHER ASPECTS of Israeli taxation have been studied here and a great resemblance noted to the American internal revenue set-up. Taxes are withheld from workers' pay in Israel as in the United States, except that the poor man in Israel gets off easier.
Israeli income taxes are computed on a sliding scale and a net annual income of from $5,000 to $10,000 is taxed 50% after all deductions are made. Higher incomes are hit even more heavily with those making $10,000 or more paying a 75% levy. Israeli corporation taxes are about the same as in the United States.
IT HAS JUST been realized that four out of the last five Jewish congressmen elected have taken the seats of non-Jews. Maybe it's too early to call it a trend but the number of Jews in Congress is now ten, about three or four more than are usually found on Capitol Hill.
All four of the new Congressmen are Democrats. The most recent arrival is Rep. Louis D. Heller, former New York state senator, who was elected in a special election last February 15 to fill the vacancy created by the death of Rep. John J. Delaney.
U. S. Notes Success of Israel Lottery
(EDITOR'S NOTE: Boris Smolar, whose column, "Between You and Me", ordinarily appears on this page, is on vacation.)
By Milton Friedman
(Copyright, 1949, Jewish Telegraphic Agency, Inc.)
WASHINGTON — A national lottery in Israel to sell government bonds which pay no interest has attracted widespread attention here.
Treasury Department insiders have expressed amazement at the lottery which is rapidly draining inflation money in Israel. The Israeli plan is being observed by congressmen, some of whom have for years advocated public lotteries to stimulate bond sales.
A recent editorial in the Washington Times-Herald urged that the United States adopt Israeli Finance Minister Eliezer Kaplan's lottery idea. The editorial ridiculed a series of raids directed by U. S. District Attorney Morris Fay against small-time gamblers in the District of Columbia, including bookies and numbers rackets people. It was entitled, "Mr. Fay Makes The Raids, Israel Makes The Money." Advocating an American public lottery to turn gambling to useful channels, the editorial intimated that the U. S. could learn from Israel.
OTHER ASPECTS of Israeli taxation have been studied here and a great resemblance noted to the American internal revenue set-up. Taxes are withheld from workers' pay in Israel as in the United States, except that the poor man in Israel gets off easier.
Israeli income taxes are computed on a sliding scale and a net annual income of from $5,000 to $10,000 is taxed 50% after all deductions are made. Higher incomes are hit even more heavily with those making $10,000 or more paying a 75% levy. Israeli corporation taxes are about the same as in the United States.
IT HAS JUST been realized that four out of the last five Jewish congressmen elected have taken the seats of non-Jews. Maybe it's too early to call it a trend but the number of Jews in Congress is now ten, about three or four more than are usually found on Capitol Hill.
All four of the new Congressmen are Democrats. The most recent arrival is Rep. Louis D. Heller, former New York state senator, who was elected in a special election last February 15 to fill the vacancy created by the death of Rep. John J. Delaney.
What sub-type of article is it?
Foreign Affairs
Economic Policy
Partisan Politics
What keywords are associated?
Israel Lottery
Government Bonds
Israeli Taxation
Jewish Congressmen
Inflation Control
Us Learning From Israel
What entities or persons were involved?
Israel
Eliezer Kaplan
Milton Friedman
Louis D. Heller
John J. Delaney
Morris Fay
Washington Times Herald
Editorial Details
Primary Topic
Us Observation Of Israeli Lottery And Taxation, And Jewish Congressmen Increase
Stance / Tone
Informative And Amazed At Israeli Success
Key Figures
Israel
Eliezer Kaplan
Milton Friedman
Louis D. Heller
John J. Delaney
Morris Fay
Washington Times Herald
Key Arguments
Israel's Lottery Effectively Drains Inflation Money Through Interest Free Bonds
Us Could Learn From Israel's Lottery To Channel Gambling Usefully
Israeli Taxation Resembles Us System With Withholding And Progressive Rates
Number Of Jewish Congressmen Increased To Ten, All New Ones Democrats