4 ms·
Tax revenue as percentage of GDP right now 17%. You can pick random countries and compare. China 26%, Sweden 41%, Japan 32% etc. Do you see the issue?
by adrr 2y ago
Tax revenue as percentage of GDP right now 17%. You can pick random countries and compare. China 26%, Sweden 41%, Japan 32% etc. Do you see the issue? When we ran a surplus during Clinton's admin, we were at 20%.
- _t9ow 2y ago> 17% ... When we ran a surplus during Clinton's admin, we were at 20%. Where did you get these figures from? According to OECD, the US' tax revenue-to-GDP ratio was 27.6% in 2022 and 25.2% in 2023: https://www.oecd.org/content/dam/oecd/en/topics/policy-sub-issues/global-tax-revenues/revenue-statistics-united-states.pdf https://www.oecd.org/content/dam/oecd/en/topics/policy-sub-i... It was 28.3% in 2000, when Clinton was still President.
- adrr 2y agohttps://fiscaldata.treasury.gov/americas-finance-guide/government-revenue/ https://fiscaldata.treasury.gov/americas-finance-guide/gover... https://www.bea.gov/data/gdp/gross-domestic-product https://www.bea.gov/data/gdp/gross-domestic-product $5 Trillion Tax Revenue $28.177 trillion GDP