Chart of the Day: Tax revenue as a percent of GDP by country
Only in Germany and Turkey did tax revenue rise as a percent of GDP last year amongst the twelve countries in the Economist’s graphic below. This is testimony to how deep the global downturn was.
The difference in how much each state collects in tax revenue as a percentage of the economy is astounding. While it is unclear whether this graphic includes state and local taxes, in 2009, no developed economy collected as little in tax revenue as did the United States. Do you believe these numbers reflect what your understanding how much in taxes is collected?
Source: Tax revenue – The Economist