Tiny Taxes

taxIn 2014, federal, state and local government tax collections totaled 26% of US GDP. The average rate across the 34 most highly developed nations is 34.4%. The USA was fourth lowest in the level of taxation, ahead of only South Korea at 24.30%, Chile at 19.98% and Mexico at 19.69%. Taxes/GDP are highest in Denmark at 47.60% followed by France at 45.03%. Life isn’t very taxing here.

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