U.S. TAXES LOWER THAN IN MOST DEVELOPED COUNTRIES

30 September, 2019   -   By Luisa Almazan

This post is also available in: Français (French)

U.S. TAXES LOWER THAN IN MOST DEVELOPED COUNTRIES

 

Taxes are lower in the U.S. than in most developed nations, according to a chart released by the Tax Policy
Center. Using data from the Organisation for Economic Co-operation and Development (OECD), the
document reveals that total tax revenues in the U.S. in 2017 represented around 27% of gross domestic
product, which is nearly 10 points lower than the OECD average of 36%. This ranks the U.S. 31st out of 36
OECD nations. The Washington Post’s Jeff Stein comments: “Another way of thinking about this is the U.S.
could raise an additional $18trn/decade if it had average levels of taxation of an advanced economy . . . And
that’s just the average, not Norway/Sweden.” Bobby Kogan of the Senate Budget Committee speculated that
tax policies like those in the European Union would raise around $26trn over 10 years while adopting the tax
policies of France would generate some $50trn extra.

 

For more info: The fiscal times

 

 

 

 

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