Saturday, April 28, 2007

 

U.S. Tax Data Doesn't Match Anti-Tax Rhetoric

Citizens for Tax Justice recently released an analysis of data from the Organization for Economic Cooperation and Development, the U.S. Treasury and the U.S. Census that showed that in 2005, total federal, state and local taxes in the United States were 25.8% of our gross domestic product, ranking 28th among developed countries. Only Korea (25.6%) and Mexico (19.0%) had lower taxes. In terms of corporate taxes, in 2004 (the last year for which there is complete OECD data), U.S. corporate taxes have fallen to only 1.9% of our GDP, compared to 3.2% of other OECD countries.

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