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Here's how much Americans pay in taxes compared with the rest of the world

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Courtesy of Federal Reserve of Chicago

With a tax burden of 25% — a measurement that includes income, property, and various other taxes — the US is near the very bottom, well below the average of 34%. It ranks below all the measured countries except Korea, Chile, and Mexico.

Ian Salisbury, Money / Business Insider 

http://static4.businessinsider.com/image/5978e6e2552be5b2008b6ab1-1349/146435341455dc628fccdo.jpgDenmark has a much higher tax burden than the US. Nelson L./Flickr 

July 26, 2017 | As the Republicans in Washington prepare to dig into the coming round of budget negotiations, their top priorities will include a systemic overhaul for US taxes, which President Donald Trump has characterized as "just about the highest in the world."

But how much do Americans really pay compared with other nations? It may be less than you think.

Ian Salisbury is a staff writer for Money magazine. Previously he was an investment columnist for Dow Jones.

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