World Tax Comparisons [Infographic]

Do you think taxes in America are complicated, laborious, and extremely high? I agree with you (once you add in corporate taxes, income tax, state tax, property tax, sales tax, tax on gasoline, tax on my automobile registration, and even the fundraising penalties of breaking the speed limit and being given a ticket). You might be surprised to see how America charts within the World Tax Comparisons Infographic below.

Taxes have been around a long time and aren’t going away. They aren’t all bad. To me the question is less about how much a populace should be taxed. An equally important question is this: “How well is tax revenue being spent?”

America is a very large country. In size and population. Even larger is the vastness and diversity of it’s people’s ideas and ethnicities. We are much more complex in that regard than India or China. Therefore we might be one of the hardest countries in the world to manage. No wonder it’s expensive and there are tax dollars going to waste.

I know we are pretty far from the next election cycle, but when you next hear candidates promising tax cuts or fighting for spending cuts, I would listen to the woman or man with an actual plan to spend your hard-earned buck better.

world tax comparisons financial infographic

[Infographic credit: http://www.creditloan.com/infographics/international-tax-rate-comparison/]

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Comments

  1. I find it odd that the Canadian one starts at 15%, as there are several situations that would make it zero. The 29% is also only the top federal rate, it doesn’t include provinces… it sucks to be an individual in Quebec (but is good to be a business).
    Range and average effective rate would be interesting.

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