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How Does the U.S. Tax System Stack Up?

edited March 9 in Other Investing
"U.S. taxes, including those levied by state and local governments, are low compared with most other industrial
countries. Moreover, U.S. tax revenues fall well short of public spending (which is also modest by international
standards), resulting in large fiscal deficits and growing government debt as a share of GDP that is on track
to surpass the record levels reached in the aftermath of World War II. In spite of numerous reform efforts,
including over 30 separate packages at the federal level in the post-war period, general government tax revenue
has remained largely unchanged as a share of GDP. Moreover, there remains considerable dissatisfaction with
U.S. taxes, which voters view as too high, unfair, and overly complex. This memo provides perspectives on these
issues by comparing the U.S. tax system to other OECD countries."

https://econofact.org/how-does-the-u-s-tax-system-stack-up

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