France Overtakes Denmark for Top Spot in Most Taxes as Percent of GDP
|Congratulations are in order. France just topped Denmark as the most taxed nation.
The OECD reports Tax Revenues Rise.
The 2018 edition of the OECD’s annual Revenue Statistics publication shows that the OECD average tax-to-GDP ratio rose slightly in 2017, to 34.2%, compared to 34.0% in 2016. The OECD average is now higher than at any previous point, including its earlier peaks of 33.8% in 2000 and 33.6% in 2007.
France Overtakes Denmark
The tax collection blue ribbon now goes to France. Congratulations!
Vs the OECD average of 34.2%, French taxes amount to 46.2% of GDP. Denmark, Sweden, Italy, and Greece round out the top five.
In addition to the blue ribbon, what else does France get?
Riots
Amusingly, it was a promise delivered: Macron Promised a Revolution, He Got One, Against Himself
In response, I offer this bit of political advice: Politicians Beware: It's Best Not to Deliver What You Actually Promise.
How Did This All Start?
Good question.
Macron raised diesel taxes to pay for the global warming reduction effort that he campaigned for.
Where Are We Now?
That's another good question.
In response to the riots, please note: France Suspends Diesel Tax Hike.
Musical Tribute
I am certain readers would like a fitting musical tribute to these events. I posted this before but who can resist another Beatles tribute?
Comment of the Day
You say you want a revolution. Well, you know. We all want to change the world.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.