And when you look at it as taxation on the highest earners in society, it's even lower.
It's interesting, the book I'm reading at the moment about the Reagan Revolution. Their big economic plan was to cut taxes and slash state expenditure. They felt this two-prong attack on the countries deficit spending (And this was when America had just started down the road of big deficit spending) would stimulate the economy and fill the black hole.
Only when it came time to cut spending, the Senators and Congressmen screamed no, and all of the billions of dollars that got spent on expensive boondoggles were protected. So the only part of the regan revolution that went through was the tax cuts part.
Which is when the American deficit suddenly started spiralling out of control. And ever since then, they just kept borrowing more and more.
However, when you add back in the price they pay for healthcare, education and so on that many countries pay for from the general taxation pool, it turns out they pay pretty much the same on average for life's basics.
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Most taxes in the larger countries like the US and Canada go to States and Cities and districts and counties and whatever else they have.
I did read an article showing that a typical American pays as much in tax as a typical Brit, but has to do so in a far more complicated way.
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It's interesting, the book I'm reading at the moment about the Reagan Revolution. Their big economic plan was to cut taxes and slash state expenditure. They felt this two-prong attack on the countries deficit spending (And this was when America had just started down the road of big deficit spending) would stimulate the economy and fill the black hole.
Only when it came time to cut spending, the Senators and Congressmen screamed no, and all of the billions of dollars that got spent on expensive boondoggles were protected. So the only part of the regan revolution that went through was the tax cuts part.
Which is when the American deficit suddenly started spiralling out of control. And ever since then, they just kept borrowing more and more.
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Also I note this is as a percentage of GDP, so really it is just telling that the rich in America don't pay enough taxes, yes?
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As Anyone Can Clearly See
Re: As Anyone Can Clearly See
As Anyone Can Clearly See
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