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The chart says total tax burden so I'm assuming it takes into account state taxes. The one chart indicates an average for the U.S. of around 26%. This would b
by yequalsx 15y ago
The chart says total tax burden so I'm assuming it takes into account state taxes. The one chart indicates an average for the U.S. of around 26%. This would be a 2% increase from what it is today. In a $10 trillion economy this would be a $200 billion tax increase. Given that borrowing rates are so low right now an awful lot of money can be borrowed before the budgetary burden reaches $200 billion in additional annual spending.
I responded to your post in another comment.
- TomOfTTB 15y agoTotal tax burden is a vague term. They could easily mean total Federal tax burden since they're comparing countries. This NY Times article pegs the total U.S. Federal tax burden at 20.7% which makes the numbers you quote seem dubious http://economix.blogs.nytimes.com/2009/04/08/how-much-americans-actually-pay-in-taxes/ http://economix.blogs.nytimes.com/2009/04/08/how-much-americ...
- yequalsx 15y agoTax burden is not a vague term. They define it in the charts. Total tax burden is the percent of GDP that is tax revenue. The link you gave talks about effective tax rate. This is very much different than the percent of GDP collected in taxes.