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Is it unusual that 88% of the US federal revenue is from individual income taxes? IIRC US corporate income tax rates are fairly high compared to the rest of th
by Rebelgecko 6y ago
Is it unusual that 88% of the US federal revenue is from individual income taxes?
IIRC US corporate income tax rates are fairly high compared to the rest of the world (although maybe there's more deductions and other shenanigans)
- croes 6y agoFairly high? I don't think so. Compare the tax rates to european countries.
- Rebelgecko 6y agoIt looks like most countries in Europe have lower corporate tax rates than the US (https://en.wikipedia.org/wiki/Tax_rates_in_Europe https://en.wikipedia.org/wiki/Tax_rates_in_Europe)
- yojo 6y agoThe economist has a nice chart on this. The US has a lower share of taxes paid by corporations relative to other sources than our peers. https://archive.is/ND3cQ https://archive.is/ND3cQ
- granzymes 6y agoAt 24.6%, the US had an effective average corporate tax rate somewhat in the middle of the pack in 2019. In 2017, at 37.5%, it was the second highest in the world, so which year you look at is very important. It's also important to realize that a large portion (~10%) of individual income taxes are actually from pass-through business income. https://stats.oecd.org/Index.aspx?DataSetCode=CTS_ETR https://stats.oecd.org/Index.aspx?DataSetCode=CTS_ETR