Taxes for 34 countries - ranked
The U.S. has surprisingly low taxes compared to other developed nations, according to new data from the Organisation for Economic Co-operation and Development.
Total tax revenue as % of GDP
Source: Organisation for Economic Co-operation and Development; Published December 11, 2015.
Notes/Methodology
The above chart is based on OECD tax data from 2014. It includes all federal, state and local taxes - including income, payroll and property taxes, along with corporate taxes and value-added taxes, among others. U.S. taxes are lower than most other nations, in part, because the federal government doesn’t impose VAT on its population. Instead, retail sales taxes at differing levels are imposed at the state and local level.
The above chart is based on OECD tax data from 2014. It includes all federal, state and local taxes - including income, payroll and property taxes, along with corporate taxes and value-added taxes, among others. U.S. taxes are lower than most other nations, in part, because the federal government doesn’t impose VAT on its population. Instead, retail sales taxes at differing levels are imposed at the state and local level.
Election 2016: Taxes
-
Trump says he can't release tax returns because of audits - Bernie Sanders' mega tax increases largest in peacetime history
- Marco Rubio's tax plan would cost at least $6.8 trillion
- Here's how much Hillary Clinton's tax plan would hit the rich
- Ted Cruz would radically reform taxes but also explode the debt
