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Tax Time Has Passed...But The Pain Remains

Fact 1: In fiscal year 2006, the total amount of U.S. taxes collected was $2,518,680,230,000.

Fact 2: Almost 50% of the tax amount collected came from individual income taxes.

Fact 3: Assume that the average tax burden for an American was 26.8%. In Sweden, the individual average is 51.1%.

Question: If the Swedish rate was our rate, what would be the amount of U.S. taxes collected?

Note: For the year 2006, the government estimates that the IRS failed to collect about $345,000,000,000 is assessed taxes!

Source: Fast Company, April 2008, p. 42