Sunday, October 15, 2017

IS THE U.S. TAXED TOO MUCH?

Our president keeps saying an untruth that we are the highest taxed people in the world.  I noted a few months ago* that is not true, but I thought that the figure below** from CNBC adds something to the discussion:

(Click on figure to enlarge)

It turns out that we are not even close to being the highest taxed though we are above the OECD average, but that is not good enough, I guess.  There are several ways to look at taxes.  Another way is to look at taxes as a percent of GDP,**  This way shows America is the 4th lowest in the world and way below the OECD average (See the figure in the first reference* and 2nd figure in the scecond reference, which are the same except for the number of decimal points).  Only Korea, Chile, and Mexico are lower in taxes as percent of GDP.

* http://stopcontinentaldrift.blogspot.com/2017/08/taxes-america-versus-world.html
** https://www.cnbc.com/2017/09/06/sorry-president-trump-the-us-is-not-the-highest-taxed-nation-in-the-world.html

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