Good News: US Taxes Remain Low

https://www.oecd.org/tax/tax-policy/revenue-statistics-united-states.pdf

US taxes as a share of GDP have declined by 3% of GDP since 2000 and are about one-fourth lower than the average of other developed countries.

https://fred.stlouisfed.org/graph/?g=ffB4

Government taxes (excluding social security) have declined by 1-2% of GDP since 1950’s.

https://fred.stlouisfed.org/series/FYFRGDA188S

Federal taxes as a percent of GDP have remained flat since the 1950’s.

https://www.pgpf.org/blog/2021/04/six-charts-that-show-how-low-corporate-tax-revenues-are-in-the-united-states-right-now

Effective corporate tax rates in the US are very low.

https://taxfoundation.org/short-history-government-taxing-and-spending-united-states/

Federal government tax receipts have been essentially flat as a share of GDP for more than 70 years.

https://www.usgovernmentrevenue.com/revenue_history

A source with more details shows that any growth since the 1950’s has largely taken place at the state level.

https://www.visualcapitalist.com/comparing-tax-systems-around-the-world/
https://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally

US total taxes as a percent of GDP are exceptionally low among developed countries.

https://www.oecd.org/tax/tax-policy/revenue-statistics-united-states.pdf

US income and property taxes are relatively higher than other developed countries, but corporate taxes are half as high, and the US does not use value added taxes (VAT) to quietly collect revenues.

One thought on “Good News: US Taxes Remain Low

Leave a comment