CHART: The US Has One Of The Lowest Tax Rates In The Developed World

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.

From BlackRock:

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.

global tax rates

Photo: BlackRock

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.