Monday, August 8, 2011

U.S. is the 15th most heavily-taxed country

By James Sunshine
August 5, 2011 | Huffington Post

With a marginal income tax rate of over forty percent, the U.S. comes in as the fifteenth most heavily-taxed nation in the world, according to an infographic by TurboTax.

The actual percentage paid out by corporations appears to be substantially lower though, considering that even though the country's listed federal corporate tax rate is 35 percent, it only takes in roughly 23 percent, as recently pointed out by former President Bill Clinton.

One of the two countries where the gap between the rich and the poor widened most in the past decade, Sweden, is ranked as the most highly-taxed country, with a income tax rate of 56.5 percent.

Of the 15 nations with the highest tax rates, 8 also are listed among the 15 most thriving countries, according to Gallup. Germany, Italy, France, Portugal, Japan and Austria all failed to make the cut, and it was only Austria that had a thriving majority.

Editor's note: Some of the icons below don't correctly reflect the country's flag. The country names are correct.

See the infographic here:

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