The stat no one wants to own

Yowsa. The OECD has released its famous statistic – total tax revenue as percentage of GDP. 33.4% of our Canada’s GDP goes to taxes. In the U.S., it is 28.2%. On the low side we have Mexico at 20.6%, Korea 27% and Greece 27%. On the high side, Denmark 29% and Sweden takes the cake at 50.1%. The government is a full half of the economy in Sweden. Now I know why they are spending at least some of that dough trying to attract private sector investment.

NB Taxpayer’s right temple is throbbing as he reads this while Mikel has broken out into a wide grin.

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0 Responses to The stat no one wants to own

  1. mikel says:

    Hardly, most of that tax dollars goes back into corporate research and manufacturing, the military, police, etc. I’m sure you saw the report today from child services that the national average child benefit is $500 a month while in New Brunswick it is $167. That’s nothing to smile about. Bolivia is the poorest country in the hemisphere with the second most oil and gas reserves, however, they are ‘taxed’ at about 15%, which gives the country very little. Meanwhile, Norway taxes oil at a whopping 75% and its still profitable, has given the country trillions in surplus, and the highest standard of living. I haven’t found out what Canada’s royalty scheme is, but its probably nothing to smile about.

    That number doesn’t necessary mean anything good, however, from a quick glance, its clear that the HIGHER the number, the better the standard of living for most of the population.