No Cash Please
Did you know that 23% of Israel's economy is black market? For comparison, according to Globes , developed Western economies are around 10% black-market. This huge amount of black market money means the State of Israel is losing out on 30-40 BILLION shekels of tax revenue each year. Adding these missing funds to the budget would significantly increase Defence, Education, Health, Transport and many other aspects of Israel's national needs. Also, in light of high-profile recent bribery and corruption scandals in Israel, the use of large sums of cash has been a back-door for crime and corruption. According to a new proposal from the Harel Locker Committee on financial reform, the use of cash will be limited for business transactions to 7500 NIS, and later further restricted to 5000 NIS. Private individuals will be limited to 15,000 NIS cash spending. For individuals, I can think of buying cars, apartments, weddings/simches - as some of the few transactions whic...