As part of a recent panel of Israel’s top 4 tax experts, hosted by Israeli newspaper “Globes,” Pinhas Rubin gave advice to Israel’s Prime Minister, Benjamin Netanyahu, and Minister of Finance, Yuval Steinitz, on ways to decrease the budgetary deficit, while protecting the middle and lower classes of the economy.
Rubin’s advice included an innovative and creative solution for waging a strong battle against black money – “Future black money can be prevented or neutralized to a certain extent by technically banning cash payments…It’s very simple. If there will be such a provision of law that the public is aware of, then no one will pay with cash anymore.” And in doing so, Rubin believes, we will have created a system in which all transactions are controlled.
