Hong Kong ranks as the freest country in the world according to the Index, followed by Singapore and Australia. New Zealand and Switzerland round out the top five. Out of the top ten countries, however, only two became more free relative to last year's...
Interesting. The top two, Singapore and Hong Kong, are little larger than city states and can avoid many of the costs of larger countries (e.g. defense). Their tax burdens are very low (14.1 & 14.5 percent of total domestic income.) The other countries above us include: Denmark 50 percent of total domestic income. Canada 31 percent of total domestic income. Switzerland 29.8 percent of total domestic income. NZ 31.3 percent of total domestic income Aus 26 percent of GDP. Chile 31 percent of total domestic income. And what about the US? The overall US tax burden equals 24.8 percent of total domestic income. Taxed enough already? Not compared to the countries that are economically "free".
The Heritage Foundation released their annual Index of Economic Freedom, a country-by-country ranking of economic freedom throughout the world. The United States' position in their rankings fell for the fifth year in a row - this time below Denmark - and ranks as the tenth-freest country in the world, in the "mostly free" category.
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