Are We Paying too Much Taxes?

By Levi Anthony - Posted 6/15/2011

If you listen to wealthy people and the politicians and those in the media who support them, you would believe that the country is going to pieces because Americans are paying way too much taxes.

But this claim is simply not true; it is not supported by the facts.

First, let’s compare the amount of taxes we pay now with what we paid in the past. Look at this chart. Federal taxes are now at their lowest levels in 60 years. This year, these taxes will account for less than 15% of GDP.

Second, let’s look at total taxes Americans pay when compared to other countries. Look at this next chart. It compares the total taxes paid by Americans with those paid by citizens in 30 other developed countries. Americans pay relatively low taxes; we are the fifth lowest tax-paying nation. America is a low-taxed nation!

And this is true, not only for individuals, but corporations as well. Corporations are paying much less taxes now than they did in the past.

Click here to see other charts that disprove the notion that Americans are paying too much taxes




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