S
Exceed Your Expectations
trAet14
(*.h
Al!Mil t\
dommommonwew
Lexus Of Lansing will make leasing a Lexus
beyond your expectation with easy 1-2-3 payments!
Rabin Takes On
The Stock Market
Prime minister finds making investors pay their
share can be taxing politically.
LARRY DERFNER ISRAEL CORRESPONDENT
Financing rates as low as 3.9% • Extremely favorable lease rate terms •
'94 GS300
$38 995*
'95 SC300
$40 839 .
Sunroof, Traction Control,
Leather, Floor/Trunk Mats,
Wheel Locks Stk #94063
Leather, Sunroof, CD Player,
Floor/Trunk Mats, Wheel
Locks Stk #95019
*Plus taxes, title, loc.& doc..
PY
nth's payrnen
, 41 .PYi3P
s
7,
'94 ES300
$31,395*
$48,795°
Leather, Sunroof, Heated
Seats Floor/Trunk Mats,
Stk #94185
'95 SC400
Leather, Sunroof, NAK Memory, CD
Player, Traction Control, Floor/Trunk
Mats, Wheel Locks Stk #95020
36 month closed end lease:
ep. and $4,6tlease age. fee
tO.C. 1Se
.
•
• .
LEXUS OF LANSING
inally, after more than two
years in office, the govern-
ment of Prime Minister
Yitzhak Rabin put its mark
on the Israeli economy. It broke
the strongest taboo in the coun-
try's financial life last week by
proposing a tax on the money
that investors make from the
stock market. The reaction: a feel-
ing that justice had been done,
but doubt over what such a tax
would do to the market.
At first, the question asked
most often was: Why did it take
so long? After all, employees are
taxed up to 50 percent on their
wages, business people have to
shell out heavily to the govern-
ment on their profits, but specu-
lators who get lucky on the stock
market are allowed to keep every
shekel. This, in a country that
gets criticized for being too so-
cialistic.
They listed all sorts of reasons,
leaving out one: They didn't like
paying taxes, especially a tax
they'd never had to pay before.
"We voted Rabin in because of
peace. Now we'll vote him out be-
cause of money," said one of the
more candid investors on Ahad
Ha'am Street, Israel's Wall
Street.
On Day One of trading after
the government's announcement,
the stock exchange fell by 10 per-
cent — the worst day in its his-
tory. Mr. Rabin and Finance
Minister Avraham Shohat came
under furious criticism from in-
vestors and the right-wing oppo-
sition for throwing the stock
exchange into a tailspin.
Likud leader Binyamin Ne-
tanyahu decried Mr. Rabin's "eco-
nomic zigzags" and "shamelessly
misleading statements." (The
prime minister had said two
The Relentless Pursuit of Perfection
For a personal showing:
Call 1-800-539-8748 OR 1-800-LEXUS-4-U
(CALL COLLECT)
DIS
Anybody can se jevsieIry. SERVICE.
• •
and
C,OUNTS
but NO130DNI provides
1110 NNeintraub.
'THERE IS
A
DIFFERENCE.
Southfield
1 - My .,
Phone: 910-357-4000
- Sat 10 - 5
Sunset Strip 29436 Northwestern
DON'T LET HOUSEHOLD PESTS
HOLD YOU HOSTAGE!
CALL THE ERADICO PROFESSIONALS!
C./)
Eradico's safe and proven methods keep your
home free of insects, rodents and other pests.
Trust Eradico for an honest assessment of
your needs and dependable, affordable service
w
Cockroaches • Ants • Fleas • Bees • Homets
• Wasps • Rats • Mice and any other pests.
w
C.)
CC
For a FREE inspection and estimate,
Cali Today!
AM&
11•111111111111h Ala Mir OM . Air
as■ maw aim lam or - Ars
WAN
OW.
=M
D. MIR IN
1 =1 lair1 IMMI 1111 'MIRO Imp,
CONTROL
UJ
LLJ
Eradicate With Eradico
14
Michigan's Largest Independent Pest Control Company
For Service Throughout Southeastern Michigan Call: (313) 546-6200
..• ■•••■■• ∎
SRS
CA$ H\
FOR LIKE-NEW
WOMEN'S & CHILDREN'S
DESIGNER
fashions
& accessories
CONSIGNMENT
CLOTHIERS
Call today for a EE.EE
housecall appt. or
in-store appt.
347-4570
43041 W. 7 Mile • Northville
CLASSIFIED
GET RESULTS!
Call The Jewish News
354-5959
AP/NATI HAR NIK
Exit 104 off 1-96 • 5709 S. Pennsylvania, Lansing • 517/394-8000
Traders at the Tel Aviv Stock Exchange shout their sell orders.
The architect of the new poli-
cy, Finance Ministry director-
general Aharon Fogel, called the
tax on the stock exchange "a cor-
rection of the greatest injustice
that existed in the Israeli taxa-
tion system." It was hard to dis-
agree. "Thank God, the casino's
closed, and everybody's going to
have to work for a living," said
one woman at a Ramat Gan
shopping mall.
However, the players on the
Tel Aviv Stock Exchange were
screaming bloody murder. The
proposed tax — 10 percent on
gains made from winning stocks,
with no write-off for losses — was
structured unfairly, they cried. It
would drive people out of the
market, stop growth, stop priva-
tization, the timing was all bad.
months before that he would nev-
er tax the stock exchange.) Mr.
Netanyahu declared that the eco-
nomic furor would now be the fo-
cus of the opposition's political
campaign.
Nevertheless, that day the gov-
ernment approved the stock mar-
ket tax but bowed to public
pressure by adding an option
whereby investors could write off
their losses and pay a higher tax
on their gains. (The government
has not yet suggested how high.)
Then on Day Two, amid fears
that the market would continue
its plunge, the stock exchange
steadied and even climbed back
up by a little over 2 percent. Sud-
denly, the economy didn't seem
in such danger of collapse. The
government was breathing a lot