Joe Biden has given the State of Israel a precious gift and the Jews of America a tremendous opportunity.
For years, capital gains were the difference between making deposits and making withdrawals to my checking account.
A 3% spike here and we can go out for dinner. A 2% uptick there and Mano Cruise Lines gets some additional passengers. The taxes back then weren’t enough to take you out of the game.
The real money in capital gains is in high-tech. An employee is given exit options, which is a form of stock in the company. Once the company gets bought out, you can “buy” these options for next to nothing, and sell them to the person conducting the exit.
That made these coveted options one huge capital gain. This is exactly what Uncle Joe will take the next time you work 80 hours a week for three years while your company reaches the ultimate finish line.
What happens to the investors who make millions off a startup exit? What about the CEOs, CTOs, key developers and founders who work like dogs just for that massive exit?
They take all the risk. They do all the work. The government now takes half their money.
I don’t care if you are a billionaire like Sheryl Sandberg or a millionaire like Bernie Sanders — you won’t like the government taking that much of your own cash!
What happens to the millions of entrepreneurs who wake up every day with dreams of being the next big billionaire? These capital gains taxes may have shattered a lot of people’s dreams.
What do you do next?
There is a difference between fixing social justice on your terms and having the government confiscate your money to do it on theirs.
Most people, regardless of their view on politics or progressive policy won’t be happy. They will find ways to keep their money — especially if they worked to the bone for it.
A lot of smart Jews in America will decide the best way to achieve their great success will be to relocate to Israel.
I am not saying make Aliyah. We make Aliyah from America and Europe for ideology and for God.
This is different.
Many will make a sound decision to build their business in a place with just as many resources for the right staff, sources of venture capital, access to wireless everywhere, while paying our 23% capital gains tax rather than forking over 49.6% of their success to Uncle Joe.
Israel has everything you need to make it. Our laws are business friendly. We are ahead of the United States in the 5G rollout. Office space is available in abundance throughout Tel Aviv and Herzliya. Periphery cities like Be’er Sheva, Yokneam, and Afula also offer everything you need and cost a lot less in terms of rent and local taxes.
Israel is ready to accept anyone willing to come here to advance their career and finances. For the first time since King Solomon, all the reasons for staying in Manhattan are precisely the reasons for relocation.
If your mother is Jewish, your wife is Jewish, your children are Jewish you can claim residency in Israel or outright citizenship. You can start a business here, we have offices in every city designed to help you every step of the way, including loans, access to funding, finding the right office space, and more.
Israel gives tax benefits to new residents and citizens freeing up more money to grow your business.
VC investors jet set from Silicon Valley, Boston, New York, London, Seoul, and Washington to their branch offices in Herzliya to make investments in anything with wings. Our new treaty with Abu Dhabi makes the financial giant of the Middle East a banking partner. Abu Dhabi is as close to Tel Aviv as Miami is to New York.
There is so much international deal-making here, you can get just about any brand of American food in the city. I went to a gas station in Herzliya, a gas station, and they were selling Big League Chew and Cheese-its.
The clever will move to Florida but the really savvy will relocate here. Florida may be able to pass stringent anti-riot laws, but as we just saw, Federal Capital Gains Taxes obligate people in Orlando as much as they do in Orange County.
Israel will see an influx of American Jewish software developers, financers, and entrepreneurs that will take our growth to the next level. The synergies created with the fusion of our native hi-tech sector with our newest editions will make us a prime location for investment from Wall Street, Beijing, and now . . . the Arab World.
The crisis of 2008 led to the 4G and Smartphone revolution which sparked the greatest era of prosperity the world has ever known. The biggest players were America and China.
The crisis of 2020 can lead to the 5G, AI, ML, and IoT revolution which may spark an even greater era of prosperity led by the world’s newest economic bloc: India, Saudi Arabia, Gulf States, northwest Africa, and Israel.
The Uncle Joe (Stalin) of the 1920s set policies that brought hundreds of thousands to Israel. The Uncle Joe (Biden) of the 2020s will accomplish the same.