Wednesday, October 28, 2015

Fact-Checkers: Trump Is A Liar, U.S. Doesn’t Have Highest Tax Rate In The World

http://www.occupydemocrats.com/fact-checkers-trump-is-a-liar-u-s-doesnt-have-highest-tax-rate-in-the-world/
"The fantasyland of Trump and his apparently mindless supporters aside, in reality this statement couldn’t be further from the truth no matter how you measure it. A list compiled by the international tax advising firm KPMG found that the United States’ top income tax rate – 39.6% – ranks 33rd out of 112 countries surveyed. A different analysis ranked the U.S. 38th out of 155 countries. As for the bottom income tax level, the United States’ minimum of 10% ranked 42nd out of 152 countries surveyed by Ernst & Young, an international accounting firm.
Despite these middle of the pack rankings – and the fact that after deductions the average American pays an effective tax rate of only 9.5% – one could argue that such measures are inadequate because of some nations’ emphasis on corporate or payroll taxes rather than income taxes. No cigar for The Donald here either, though. In fact, the United States ranks even lower internationally on analyses that measure the overall tax burden. For example, in the measurement of tax revenue as a percentage of GDP – widely considered an effective measure by tax experts – the United States’ rate of 25% ranks it 27th out of 30 advanced economies studied by the OECD. In a World Bank ranking of taxation as a percentage of GDP, the U.S. ranked a far-from-the-highest 103rd out of 115 countries studied. Finally, when ranking by the measure of tax revenue per capita, the U.S. figure of $13,482 ranks us 16th out of 29 countries surveyed by the OECD.
Any way you slice it, America’s tax rates are far from the highest in the world, and in fact often rank among the lowest."