I'm one of those voters whose vote was washed away, because my favored party didn't get the minimum needed. We weren't short by all that much. In the old way of counting, they would have gotten in with two representatives or at least one. Actually, in the previous minimum threshold they would have probably gotten three MKs. How's that? That's because many people didn't vote for the party I did, because they thought that it would be a "wasted vote." That became a self-fulfilling prophecy. There were not doubts in the polls that they could have gotten in on the old law.
So, I'm among those who wish we could turn back the clock.
Hat tip: Rafi's Life in Israel
The minimum threshold for Knesset had been adjusted a number of times over the years, eventually being raised to the current 2%, and recently attempts were made to bump it up to 4%. It is thought that raising the threshold would make the government more stable by ridding the government of small parties that end up wielding more power than they should naturally have, giving them the ability to make "unreasonable" demands.
MK Yaakov Litzman (UTJ) just proposed a bill by which the threshold would move in the opposite direction. Litzman would do away with the threshold entirely. Litzman believes, it seems, in evolution and natural selection, and believes that the natural threshold would do a better job at keeping the government stable and small parties out.
Litzman says that the threshold should be natural - take all the valid votes from the elections, divide by 120 (number of Knesset seats), and whichever parties garnered enough votes to reach that number would get the appropriate number of seats based on votes. Litzman even says that history has shown that raising the minimum threshold repeatedly has not stopped small parties form getting in, nor has it made the government more stable...