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Latest revision as of 02:48, 8 January 2025

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Contributing an insurance deductible $1,000 will lower the taxable income of the $30,000 a year person from $20,650 to $19,650 and save taxes of $150 (=15% of $1000). For the $100,000 every single year person, his taxable income decreases from $90,650 to $89,650 and saves him $280 (=28% of $1000) - almost double!

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These figures seem to guide the argument that countries with high tax rates take good care of their people resident. Israel, however, characteristics tax rate that peaks at 47%, very nearly equal to this of Belgium and Austria, yet few would contend that it in the same class when it comes to civil beginning.

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