By many measures, the U.S. has high tax rates relative to the rest of the world.
But measured against GDP, the U.S. tax rate actually seems quite low.
Benjamin Franklin was right when he wrote: “Nothing can be said to be certain, except death and taxes.” These days, we are not so sure. The US tax code is not just complicated, it also changes frequently.
And as shown in this week’s chart, US tax revenues are comparatively low, ranking at the bottom of developed economies at around a quarter of GDP. Does this mean policymakers will raise tax rates? What would that mean for your portfolio?
It’s certainly something for policymakers to consider.
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