Oct
12

Tolerable Taxes

tax-burdenAmong the 33 major democratic industrialized nations, the average tax burden, including all federal, state and local taxes, is 34.4% of GDP. The highest tax-burdened nation is Denmark, where taxes are an amazing 50.9%. Next comes France at 45.2% and Belgium at 44.7%. The least taxed nation is Mexico at 19.7%, followed by Chile at 19.8%, South Korea at 24.6%, and then the relatively lightly taxed USA at 26%.

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  1. Stuart Kuzminsky says:

    How much is paid in taxes is somewhat interesting. More important is what value the taxes represent. Living in Sweden, I paid 45% in taxes, shocking I thought. Back in the US, I priced the same services including health insurance, retirement savings, disability insurance and unemployment insurance at 90% of income, child stipends, … The equivalent cost here was almost 60% of income. True, here the sales tax in Colorado is less than 9% there it was over 20%.
    Taxation level is important, what is received for those costs determines the relative value.

    Thanks for an interesting blog,
    -Stuart

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