America the Undertaxed.

The author offers opinions on U.S. fiscal policy and taxation law and legislation. It is stated that the U.S. has an extremely low overall rate of taxation as measured as a percentage of gross domestic product (GDP) compared to other developed countries. This is attributed to lower tax rates on corporations and social insurance taxes and to the fact the U.S. does not have the value-added tax (VAT) on consumption used by other developing countries. U.S. taxation is said to contribute to increased income inequality. The complexity of U.S. tax law is said to hinder economic development.