President Trump's 2017 tax cuts made the US among the lowest taxed major economies in the world. Here are six other low-tax countries.
The US tax burden slid to among the lowest for major global economies in 2018. It now sits above just Ireland, Chile, and Mexico, according to a report from an intergovernmental organization released Thursday. It fell to 24.3% of gross domestic product, the result of President Trump's 2017 tax cuts that slashed corporate rates. Data from the OECD showed US tax burdens has steadily shrunk since 2000 when the tax-to-GDP ratio stood at 28.3% in the last year of Bill Clinton's presidency.
The US tax burden slid to among the lowest for major global economies in 2018. It now sits above just Ireland, Chile, and Mexico, according to a report from an intergovernmental organization released Thursday. It fell to 24.3% of gross domestic product, the result of President Trump's 2017 tax cuts that slashed corporate rates. Data from the OECD showed US tax burdens has steadily shrunk since 2000 when the tax-to-GDP ratio stood at 28.3% in the last year of Bill Clinton's presidency.
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