Tax Day 2012 is upon us. And given the centrality of taxes as an election issue, it would be accurate to say that Tax Year 2012 is upon us. To inform the tax debate, the Citizens for Tax Justice, one of the most competent of any groups on this subject, has provided the data rebutting five common tax myths.
We’ve been told, for example, that we pay an unusual amount of taxes. Actually taxes as a percentage of the GDP is the third lowest of any OECD country. We’re told that our corporate taxes are among the highest in the world, but actually they are the second lowest. We’re told that cutting taxes spurs job creation but actually high tax states have more energetic economics than low tax states.
Read the brief yourself, and bookmark Citizens for Tax Justice so in the future you can easily find the real data behind the tax debate.