Tax Direction

International Tax Comparisons, 1965-2003 (federal, state & local)
http://www.ctj.org/html/oecd05.htm

The United States collect less taxes (federal, State, and local) as a percentage of GDP than any OECD Country except Mexico. The listed percentage of GDP for 2003 was 24.2% in the United States. We assess only 1.5% of GDP as Corporate income taxes, half that collected by the other OECD Countries. Personal Income taxes have declined in this Country by 17% since 1980. Americans pay significantly less in Social welfare taxation (6.9% v. OECD rate of 10.9%, 2002 readings), and get reduced Social benefits. Americans pay around half the consumption taxes imposed on Consumers of other OECD Countries (4.6% v. 9.5%, 2002 readings), with American Consumer spending generating American economic growth. Americans compare with OECD countries fairly equally in Property and Wealth taxes (3.2% v. 2.5% of GDP, 2002 readings).

What does the information tell Us?

We are collecting sufficient Tax revenue, don't let the Bush Budget-Busting fool Anyone. The United States still collect more Taxes in nominal terms than any other Country. The second salient Point states We are spending the Funds in the wrong place, and in the wrong manner. Corporations and Business are not contributing a equitable share of tax revenues. Standardization of Social welfare benefits are necessary to normalize welfare costs: Our medical practice is not the best in the World, as it is too expensive, and it is not universal care. Personal Income taxes generate insufficient tax revenues, mainly because of legislated tax evasion procedures. We have to dump the Deductions and Exemptions, if We want to rationalize the Tax Code. The final Point states that Inheritance taxation impacts economic performance marginally at most, and serves to forestall oligarchic Intergenerational Transfers of excess Wealth. lgl