More even distribution of wealth

Regarding “Israel’s economic growth has left most people behind” (January 20), the speed of innovation and change should help improve living standards.” However, a recent Jerusalem Post article pointed out that the percent of wage earners in Israel having to live at the minimum wage level has actually risen in recent years, in spite of the technological and business advances being made here. This would suggest that increases of industrial income have not been translated into improved Israeli living standards in many cases.

It is nice to hear of the newly enhanced billionaires in the hi-tech industries, but for the Israeli economy to enjoy this improvement as a whole, a more even distribution of wealth is needed. This is not to suggest a Sanders-type of socialist impediment to encouraging innovation, but it does identify a need for employers to be more forthcoming with profit distributions to their employees.

A similar problem was encountered in the US following the significant Trump business tax decrease. It was uncertain if the anticipated increased net income of US industries would be translated into elevated salaries of the workers or would be used to buy back outstanding stock issues. Soon after the tax modification, salary increases of basic workers continued at the typical 3% level. Only as the year-end holidays approached was workers’ buying power enhanced.

GARY STEINMAN Jerusalem