MK Regev calls for 80% tax on top earners

This is the latest in a wave of private member bills seeking to deal with executive pay.

MK Miri Regev (Likud) plans to submit a private members bill to heavily tax executives who earn hundreds of thousands of shekels a month. This is the latest in a wave of private member bills seeking to limit executive pay. Some of the bills are practical measures; others can be considered as mostly populism.

Regev's bill states that the tax rate on top earners will rise in direct proportion to the amount of the salary. She proposes a 60% tax rate on a monthly salary of NIS 100,000, 70% on a salary of NIS 200,000, and 80% on a salary of NIS 300,000.

Sources doubt that Regev's bill, even if she submits it, has any chance of passing, because of the Ministry of Finance's objections to measures of this kind. Furthermore, a special ministerial legislative committee, set up by Prime Minister Benjamin Netanyahu, is already discussing measures to limit executive pay, so any other proposal is irrelevant at this time.

Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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