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Will Israel be the World's First 'No Cash' Society?

FROM: http://www.israelnationalnews.com/News/ ... kmjrm0vkp9

The government authorized establishment of a committee to examine ways to eliminate cash from the Israeli economy
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By David Lev
First Publish: 9/17/2013, 9:38 PM

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Israeli currency (illustrative)

The government on Tuesday authorized establishment of a committee that will examine ways to eliminate cash from the Israeli economy – the better to prevent citizens from cheating on their taxes. The committee will be chaired by Harel Locker, director of the Prime Minister's Office.

Cash is easily passed from individual to individual, and transactions using cash can take place without the tax man's supervision. Not so electronic transactions; with modern computers, banks can keep tabs on how much people deposit into their accounts and how much they withdraw, while credit card companies have an up to the second record of how much people spend.

Members of the panel will include top staff from the Israel Police, the Tax Authority, the chairman of the Government Authority on Money Laundering and Terror, the Bank of Israel's income and payments director, State Attorney's office officials, and more.

According to many of these officials, cash is bad – because it allows individuals to get out of their tax payment responsibilities. Today, an enterprising tax collector cannot easily compare income and outflow. While he may suspect that a person living beyond his reported means is cheating on his taxes, there is no way to know for sure, without solid evidence. In a cashless economy, all records will be electronic, and checking who makes what and how much they owe in taxes – and collecting it before it gets to their account – will be a much simpler matter, the theory goes.

Officials in the Prime Minister's Office declared that “around the world, it is recognized that cash is a key element of the illegal economy and money laundering. It allows a wide gap between reported and actual incomes, with the corresponding effect on tax revenues.” By eliminating cash, the PMO said, “it will be possible to expand the tax base, and prevent money laundering.” The committee will study the issue from all its perspectives and make recommendations, the PMO said.

One issue the committee will be examining, the PMO said, was the imposing of administrative fees on electronic transactions, common in Israel. Whatever solutions the committee comes up with, the office said, it will ensure that individuals who have no choice in the matter will be able to make transactions in a manner that will not tack on extra expenses.

Observers said that it was hard to imagine the government succeeding in this effort. “A move like this could really weaken the economy,” said one observer. “The only thing declaring cash obsolete will do is to encourage people to use dollars or other foreign currency for financial transactions. Unless the government plans on making it illegal to hold foreign currency, there is no way to get rid of cash and the problems that go along with it.”

Tags: PMO ,credit ,cash
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Comments (41)
Recipe for disaster
This type of plan will cripple the economy. It will damper legitimate businesses while driving illegal transactions further underground and more undetectable. People like having the feel of money in their pocket. It took 20 years for credit cards to be an integral part of the day to day economy. A "no cash" society" will alienate almost everyone while offering little upscale. What is this 1984?
Shalom, Modi'in (17/9/13)
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Reply to comment 15
Not 1984 Israel 2013 (n.c)
RB, Israel (18/9/13)
2. People will use foreign currency.....Israel is 1984.....
.......but the spark of freedom in mankind will burn down oppressive policies like those suggested here.
Yup, uh huh (17/9/13)
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Reply to comment 13
3. Scripture calls it just what it is: covetousness and theft
Bank money creation is not compatible with Torah values. Income tax and social security programs are the second and eighth planks of the communist manifesto. We are taught to call this idea "income redistribution", the sc‎ripture calls it just what it is:
covetousness and theft in violation of Shemot/2Mose 20:15-17
Frankfurter, Frankfurt (17/9/13)
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Reply to comment 11
4. It is a tool for dictators, not democracy
Let the tax authorities do their work. People have the right to not have every penny they spend noted and ev‎aluated by the government. It is barbaric that Israel should want to make such a Stalin-esque move on its populace.
sarah leah, jerusalem (17/9/13)
Make Aliyah in 2013 Nefesh B'Nefesh
Reply to comment 24
100%
with this, G-d forbid, you'll create anti-aliya
c, c (18/9/13)
Lagoon - South Beach Netanya – Luxurious Residential Complex
Reply to comment 8
So right. Shocking. Sure gave me second thoughts.
It's bad enough here with O ruining the entire US economy and health and education systems. Despite what you might hear on regular news, we are NOT in any kind of economic recovery. So many are sick of this new wolf in sheep's clothing president, thoughts of Aliyah are more frequent--but not this! More of the same. Very sad.
Colorado, USA (19/9/13)
Lagoon - South Beach Netanya – Luxurious Residential Complex
Reply to comment 2
5. a large part of the economy
in ISRAEL is the tourist moula, how wlll you pick their pockets??
oyvay a bbuma, (17/9/13)
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Reply to comment 7
6. The crypto currency - Bitcoin - will gain momentum... (n.c)
z, md (17/9/13)
7. Wow!
Wow!
Sarah, Miami (17/9/13)
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Reply to comment 6
8. the better to prevent citizens from cheating on their taxes
I am amazed, it seems that Israel wants to become the first most socialist nation. Total government control, are you also working at mind control. This is just unreal, I am thinking all Christians prayers are being wasted, on this almost completely secular nation. Where is God in all this. Any government that uses its power to control its people is itself out of control.
Don, (17/9/13)
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Reply to comment 6
9. Artsa Alinu - eze sh'tut asinu (n.c)
cdg, mescal (17/9/13)
10. Why Did I make Aliyah again? (n.c)
d, jerusalem (17/9/13)
Because of the Mitzvos Haaretz not the secular government. (n.c)
RB, Israel (18/9/13)
You did the right thing.
Don't worry, you did the right thing. This kind of nonsense will soon be global and not just Israel if it comes true. But making aliyah to Israel was the right thing, to do. God said that he would gather the remnant from all the four corners of the world back to the land He put his name on.
Andy, PA, USA (18/9/13)
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Reply to comment 1
Aliyah Spin Factory
Agreed d. I wonder how the Pro Aliyah Spin Factory will make this into a make Aliyah Now! Article for the various blogs. If this news broke in America we wouldnt hear the end of it..
Ssgt, Zion (18/9/13)
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Reply to comment 0
Okay. Good point. Maybe also you need more of
those of us who understand the underpinnings of political freedom and strength.
Colorado, USA (19/9/13)
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Reply to comment 0
11. Terrible.
To even think of this idea destroys the argument that Israel is the only democracy in the Mid East. This is called govt control. This is very sad to see that this is even thought of.
Avi, Brooklyn (18/9/13)
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Reply to comment 6
12. No cash
Our rulers are not satisfied with the unlimited powers we have given them because of our security situation. They want to make us their abject slaves. Fie on them.
rebaaron, Jerusalem (18/9/13)
This New Year Help us feed Israel's poor, Donate now!
Reply to comment 6
13. We call it "The Sqeeze" or "The Rub"
Here in the US a traffic ticket leads to another and then another until you have nothing left. Also no defense or Due Process. Eventually the middle class takes their money to another country. It is against the Christian Faith to go cashless of course taking a cashless mark. I feel sorry if Israel goes cashless. Such a great, amazing place, loved by honest Godly people around the world. Sometimes too much change will turn away tourism.
MBH, USA (18/9/13)
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Reply to comment 3
14. Relax please. Israel is already a cashless society..
Taxes and government rip offs on gasoline, (fuels), water, electricity, etc, took care of that long ago. People are moving away from the "tapeworm combina" into alternative systems including barter, using other currencies, gold, silver etc. The terrific recent increases of taxes started by Netanyahu-Lapid signal that they bled the tax funds to death and seek more ways to try to extract the small remaining cash lines. Nobody wants to chair the Bank of Israel for a reason folks...
SHmuel, Eretz Israel (18/9/13)
This New Year Help us feed Israel's poor, Donate now!
Reply to comment 6
15. How would one give his kids Hanukkah gelt? (n.c)
Lazar, Brooklyn (18/9/13)
Best comment!!!!! (n.c)
GB, Israel (18/9/13)
It would be Hanukkah Credits Subject to Tax of course (n.c)
Ssgt, Zion (18/9/13)
Money changer is back
Look like the money change before enter the temple is back!
Sakker, Jerusalem (30/9/13)
This New Year Help us feed Israel's poor, Donate now!
Reply to comment 0
16. Israelis can't even read their own Bibles. (n.c)
SCB, USA (18/9/13)
Not Israelis. Israeli government officials. (n.c)
GB, Israel (18/9/13)
17. Mark of the beast coming soon! (n.c)
Dave, J'ville (18/9/13)
18. It will be good to do away with government paper
It may not be the government"s intent, but such a move will force many to transact their business with real money, i.e. things like gold and gems that do not depend upon the continued existence of one government or another for their value.
ML/NJ, Caldwell (18/9/13)
Lagoon - South Beach Netanya – Luxurious Residential Complex
Reply to comment 3
and the good old greenback. (n.c)
GB, Israel (18/9/13)
19. Is Israel turning into stupid? Well greed does that!
this government is playing with fire and hope to G-d it does not burn...This government is making sure that their is no aliyah and people leaving the country...Enough is Enough I am sick of this leftist socialistic government. I love my country Erez Israel but not the Erez Israel that we live in... Congratulation government you make me think hard if I want to stay in Israel, which I have a feeling many have the same thought....
Jewgirl, Israel (18/9/13)
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Reply to comment 1
20. Want to save money? Get rid of the judges.
1) then you can get rid of the illegal African immigrants which are preying on the citizens of this country.

2) stop car theft
Joe, Jerusalem (18/9/13)
Eldan offers the ultimate car rental experience
Reply to comment 2
21. Satanists?
The people on our bills represent four students of Na Nach that made the book Ebay Hanachal. Bank o Israel lied saying they need to print new currency (with new people) because the bills were too easy to forge... these historical figures (believed in G-d and were kosher before they died), they were not the poets attached to sexual lusts proposed. Two forest fires and the death of prison guards didn't make BOI change their minds. January 1st they want to do it again, this i only a "spare tire"
geoffrey max mordeca, Ebay Ha Nachal- (18/9/13)
Lagoon - South Beach Netanya – Luxurious Residential Complex
Reply to comment 1
22. Israel is not America.It was founded by socialists.
I "lived" in Israel for ten years in the 1980s, and saw the horrors and havoc that socialism wreaked in those terrible years. Israel today is highly capitalistic by comparison, but still socialist mentality continues to predominate.It will certainly drive Americans away, as it did me. It will drive more sabras away too. Granted, Israel's security and social problems are enormous compared to even the US, state terrorism is not the answer.
jgarbuz, Queens, NY (18/9/13)
Make Aliyah in 2013 Nefesh B'Nefesh
Reply to comment 0
23. End of Freedom
last vestige of freedom being wiped away - total control of the individuals right to buy/ sell. If you go against gov. your cards could be shut off - wonderful gov. control of your life. The end of life as we know it!
Don, Frankford (18/9/13)
Special opportunities for real estate investment in Israel
Reply to comment 2
24. "The Government"
It is the people who hold the highest positions in this country that do most of their deals in cash.
Leah, Israel (19/9/13)
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Reply to comment 0
25. Everyone here is worried about government abuse. Not me...
I'm worried about pickpockets.
If someone steals the cash in my wallet, then I'm out whatever's in my wallet.
If they steal me credit card, however, it's a HUGE deal.
Now not only do I not have access to my own money, I have to call the bank (and pray it didn't happen on Friday or Saturday), have that credit card cancelled, then wait for a new card to be issued to me and until then I won't even have a few coins for bus fare because we're paperless.
Alan, Eilat (20/9/13)
This New Year Help us feed Israel's poor, Donate now!
Reply to comment 1
26. Admission That Israel Is A Nation Of PettyThieves
Besides the consequences of damaging the Israeli economy, annulling the basic rights of Israeli citizens, and a futile attempt to collect taxes which will ultimately fail because ways will inevitably be found to skirt this measure, a cashless state would admit that Israel is a nation of petty thieves. The reality is that Israel's tax system is punitive, anti-business, and a leftover from the days of the extreme socialist welfare state. Avoiding punitive taxes does not make one a thief.
Stuart Braun, Sedona (22/9/13)
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Reply to comment 1
27. yes
Nasty!
Usor, (30/9/13)
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Reply to comment 0
28. Controlling Isrealis critical of their governments policies
This sounds like a good way to control Isrealis critical of their governments policies. Any dissent and their money will be cutoff
geek, barcelona (30/9/13)
Make Aliyah in 2013 Nefesh B'Nefesh
Reply to comment 1
29. mr
and no man can buy or sell unless he has a mark of the beast
jerry, newcastle (30/9/13)
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Reply to comment 0

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Will Israel be the World's First 'No Cash' Society?

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