Did You Know? #31

Which nation collects the most tax revenue as a percentage of GDP in the industrialized world?

According to data collected in 2009, among the 34 members of the Organization for economic Cooperation and Development (OECD), Denmark collects tax revenues amounting to 48.3% of its GDP. 

Rounding out the top 10 are Sweden (46.7%), Italy (43.4%), Belgium (43.2%), Norway (42.9%), Austria (42.7%), Finland (42.6%), France (42.4%), Hungary (39.9%) and the Netherlands (38.2%). 

The United States ranks 32nd, collecting 24.1% of its GDP in the form of GDP. Over the past 40 years, the United States has averaged 18% of GDP in tax collections, which matches projected costs for Social Security, Medicare, Medicaid and interest on the national debt in 2029.