The U.S. has surprisingly low taxes compared to
other developed nations, according to new data from the Organisation for
Economic Co-operation and Development.
The Organisation for Economic Co-operation and Development (OECD) is an international
economic organisation of 34 countries, founded in 1961 to stimulate
economic progress and world trade.
It is a forum of countries describing
themselves as committed to democracy and the market economy, providing a platform to compare policy experiences,
seeking answers to common problems, identify good practices and coordinate
domestic and international policies of its members.
Total tax revenue as % of GDP of these 34 countries:
(GDP or GDP is one measure of the size of the economy that measures the value of total goods and services produced in the country at a given time interval in relation to the current currency.
In this definition, the final goods and services are the goods and services that are at the end of the production chain, and they themselves are not purchased for production and other services.
There are different ways to calculate GDP. Calculation of total value added, calculation with consumption attitude and calculation with income attitude are three commonly used methods.)