06 July 2011

Reality Based Talk on Taxes in the United States

Quick, someone tell the Republicans in Congress - and too prominent Democratic mouth pieces like Bill Clinton too - the united States is really not a high tax country. You can find the latest report here; it shows - based on numbers from the OECD, our own Office of Management and Budget and the U.S. Census Bureau - that the U.S. actually is, across various dimensions, one of the very lowest taxed countries in the world. Last weekend, The New York Times ran this report (look here too) on the ridiculous amounts that Corporate CEOs are getting paid today - if the companies have that much cash to throw around, then I am not concerned about our Corporate rates being too high. What I am concerned about is why prominent Democrats are on the tax reduction bandwagon too. We got into our deficit mess largely by cutting taxes, any reason to think we will get out of it the same way?

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