I Know Everyone Hates Taxes, But Here's The Reality: America Has Low Taxes

Everyone hates taxes.

But as we all rant and rave about how horrible they are, it’s worth remembering the following:

Compared to the rest of the civilized world, America has very low taxes.

Here’s a chart from Andrea Campbell in Foreign Affairs that shows just where we stack up. Click the chart for a larger version:

US Taxes

Photo: Foreign Affairs

For what it’s worth, if this chart were based on 2011 instead of 2009, we would have climbed a few notches.

Last year, total US government revenue (federal, state, and local) was just under 28% of GDP:

Government Revenue To GDP

Photo: Business Insider, St. Louis Fed

And now…

Let’s put aside politics for a minute and talk about taxes…

OK, Folks, Here’s The Truth About Taxes >
(via @tomkeene)

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