> Also, I don't know if that is true in this case, but these numbers will often omit state taxes for the US and only like at federal taxes.
From the article:
>Total tax revenues (federal, state, and local) as a percentage of GDP for OECD countries.
>If you graph these values over the 20th century you should become quite worried.
I agree that US debt is a real issue. But:
* The data indicates that, if necessary, the US has a (lot) more room to raise taxes.
* US GDP grew by 3.4% <https://www.nytimes.com/2026/10/29/business/economy/us-econo...> in 3Q2026, beating estimates. French GDP shrank by 0.1% <https://www.france24.com/en/business/20261030-french-economy...> in 3Q2026, worse than estimates.
* Put another way, it is possible to grow out of debt. The US is the only member of the $40 trillion debt club, but is also the only member of the $32 trillion GDP club. Scott Bessent has been talking since before being named Treasury Secretary about 3/3/3. <https://www.foxbusiness.com/politics/treasury-secretary-nomi...>
* Put yet another way, if you are so worried about the US, you should be sounding a five-alarm bell for France and Italy, and three alarms for most of the rest of the developed world.
From the article:
>Total tax revenues (federal, state, and local) as a percentage of GDP for OECD countries.
>If you graph these values over the 20th century you should become quite worried.
I agree that US debt is a real issue. But:
* The data indicates that, if necessary, the US has a (lot) more room to raise taxes.
* US GDP grew by 3.4% <https://www.nytimes.com/2026/10/29/business/economy/us-econo...> in 3Q2026, beating estimates. French GDP shrank by 0.1% <https://www.france24.com/en/business/20261030-french-economy...> in 3Q2026, worse than estimates.
* Put another way, it is possible to grow out of debt. The US is the only member of the $40 trillion debt club, but is also the only member of the $32 trillion GDP club. Scott Bessent has been talking since before being named Treasury Secretary about 3/3/3. <https://www.foxbusiness.com/politics/treasury-secretary-nomi...>
* Put yet another way, if you are so worried about the US, you should be sounding a five-alarm bell for France and Italy, and three alarms for most of the rest of the developed world.