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America's aversion to taxes.

08/16/12 | by david2 [mail] | Categories: Politicks

This is one of those articles that allows you to step back and ask what's going on with the American political system, and why.

http://www.nytimes.com/2012/08/15/business/economy/slipping-behind-because-of-an-aversion-to-taxes.html?src=me&ref=general

Some fun facts:

America has highest infant mortality and poverty of all developed nations, the least generous unemployment benefits, and is losing ground at the most educated country.

Another fun fact:

1965 total American tax rate: 24.7%

2010 total American tax rate: 24.8%

This compares with every other industrialized nation:  Since 1965, tax revenue raised by governments in the developed world have risen to 34 percent of their gross domestic product from 25 percent, on average.

Taxes kill prosperity and jobs? Sadly, there isn't any evidence to back that claim up.

American policy makers justify our choice for low taxes with the claim that they foster economic growth. But the evidence is, at best, mixed. Since 1980, income per person has grown roughly the same across developed nations, about 300 percent, according to the International Monetary Fund. It has grown a little faster in the United States than in the European Union and Canada, but slower than in higher tax countries like Japan, Norway and Sweden.

What's this all mean?

If the goal is the welfare of the people, then it's clear that the United States is failing (as evidenced by mortality, etc) , and it's clear that it's due to the taxing structure.

 

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