Resources
CTJ: United States Remains One of the Least Taxed Industrial Countries
Click here to download the report as a PDF.
The co-chairs of the President’s fiscal commission have released a series of options to reduce the long-term federal budget deficit by $3.8 trillion over ten years. Three fourths of the savings would come from cuts in public services while only one fourth would come from closing tax loopholes and reforming the tax system.
This makes little sense, given that the United States is one of the least taxed countries in the developed world. A new report from Citizens for Tax Justice explains that the most recent data from the Organization for Economic Cooperation and Development (OECD) show that the U.S. is the third least taxed country of the 27 OECD countries for which data are available.
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The Tax Compromise is Just the Start
While Congress and the President have reached a temporary deal on the Bush era tax cuts, there is still much work to be done. Click below to see what issues are still in play, and what’s up next for the tax debate.
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