Economic Find: How Do Americans Compare?
The chart below illustrates that, compared to similar industrialized countries, the US has a pretty low tax burden to say the least. (In 2007, it was less than 30% as a share of GDP).
An argument often touted against raising taxes is that it will lead to lower productivity growth. This is an entirely false claim as many of the countries listed in the chart below actually have higher productivity growth than the US. Only Canada and Sweden have lower a lower productivity rate than the US’s 1.7%.