On Wednesday, the co-chairs of the President's fiscal commission put forth a series of options to reduce the long-term federal budget deficit by $3.8 trillion over ten years. The vast majority of the savings would come from cuts in public investments rather than from closing tax loopholes and reforming the tax system.

This makes little sense, given that the United States is one of the least taxed countries in the developed world. A new report from Citizens for Tax Justice explains that the most recent data from the Organization for Economic Cooperation and Development (OECD) show that the U.S. is the third least taxed country of the 27 OECD countries for which data are available.

Read the report.

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