Nice chart below on U.S. tax burden vs. other countries… Subscribe to the Country Success Newsletter.
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In my latest post, I comment on President Biden’s impressive speech before Congress last week, arguing that his economic plan should be anchored to lessons learned from reformers around the world, from Center Left to Center Right.
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One of the points I make in my latest post is that the U.S. has one of the lowest tax intakes among its peers, and therefore has room to raise taxes without giving up its competitive position as a low-tax jurisdiction. The Biden team should be applauded for identifying revenues to fund its initiatives; however, their plan is too expensive. The middle class programs need to be pared back in order to better focus on reducing poverty and other objectives. Likewise, the Biden team should set out a plan to reduce fiscal deficits over the medium term. See the chart at the top illustrating just how low U.S. taxes are.
