Among developed nations, Americans’ tax bills are below average
Tax burdens in the U.S. are lower than most of its developed-nation peers – in some cases, well below.
At the turn of the year the United States avoided careening over a fiscal cliff – which would have triggered recession-inducing automatic tax increases and spending cuts – by passing legislation that raised some taxes, but did little to cut spending.
The election is over. The voters have spoken. But those who thought that a clear-cut verdict in the recent presidential election would finally break the partisan deadlock in Washington may find themselves disappointed.
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