The Lowest Tax Rates in the World

The lowest tax rates in the world, as a percentage of GDP are:

1. Mexico: 17.5
2. Chile 18.2
3. United States: 24.0
4. Turkey: 24.6
5. Korea: 25.6
6. Ireland 27.8
7. Slovak Republic: 29.3
8. Greece: 29.4
9. Switzerland: 30.3
10. Spain: 30.7

Source: OECD and World Bank

Published www.cnbc.com [Retrieved May 3, 2011]

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Snapshot: U.S. Government Spending

43%- Social Security, Medicare, Medicaid
20%- Defense
2%- Homeland Security
2%- Education
6%- Interest on the federal debt
27%- All other spending: road building, veterans, national parks, etc.

Out of every $1 that the federal government spends, $0.61 is paid with taxes.  The other $0.39 is borrowed by the government.

47% of Americans paid no federal income tax.

Top 5 Contractors FY 2009:

1. LOCKHEED MARTIN CORPORATION    $38,148,142,650
2. THE BOEING COMPANY        $20,135,278,483
3. NORTHROP GRUMMAN CORPORATION    $17,114,007,562
4. GENERAL DYNAMICS CORPORATION    $16,705,736,692
5. RAYTHEON COMPANY        $15,776,184,036

Source(s): NBC News April 15, 2010
USASpending.gov April 16, 2010

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