Are Americans Overtaxed?
A big issue in the campaign is whether the top marginal income tax rate is too low or too high. Currently it is 35%. Is that high? Depends on what you compare it to. Compared to Cayman Islands (where Romney has much of his funds tucked away), where it is 0%, 35% is pretty high. Compared to Sweden, where it is 58%, it is not so high. Fortunately, there is a lot of comparative data out there. Top marginal tax rates for many countries are available at taxrates.cc.- http://www.taxrates.cc/ ... Suppose we take all the countries in North America, Central America, South America, and Europe for which data is available, and add to the list the major countries in Asia, Africa, and the Pacific to come up with a list of 100 countries and sort it by the top marginal tax rate. Here is what we get.
In this list, the United States is in the second quartile, below virtual every other rich country, but with a higher rate than most poor countries.