❝ Americans generally feel they’re being over-taxed, especially around this time of the year . . . The Organization for Economic Cooperation and Development analyzed how 35 countries tax wage-earners, making it possible to compare tax burdens across the world’s biggest economies. Each year, the OECD measures what it calls the “tax wedge,” the gap between what a worker gets paid and what they actually spend or save. Included are income taxes, payroll taxes, and any tax credits or rebates that supplement worker income. Excluded are the countless other ways that governments levy taxes, such as sales and value-added taxes, property taxes, and taxes on investment income and gains.
While you’re at it – reflect that those tax dollars in other countries get folks better healthcare, generally better education and jobs for their kids, better roads and public transit – especially high speed rail. They don’t go to the world’s largest military-industrial welfare plan, special loopholes for Big Pharma, the NFL, etc..
Thanks, Barry Ritholtz