What does that equate to in terms of total percentage of income? A 33% increase on a 13% rate is only about 17% of income, low compared to ours.
Russia recorded a Government Debt to GDP of 17.20 percent of the country’s Gross Domestic Product in 2022. Government Debt to GDP in Russia averaged 20.22 percent of GDP from 1999 until 2022, reaching an all time high of 92.10 percent of GDP in 1999 and a record low of 6.50 percent of GDP in 2009. source: Federal Treasury Of Russia
The US is the world’s biggest debtor nation.
United States Government debt accounted for 124.7 % of the country’s Nominal GDP in Mar 2024, compared with the ratio of 124.3 % in the previous quarter.
US government debt to GDP ratio data is updated quarterly, available from Mar 1969 to Mar 2024.
The data reached an all-time high of 130.6 % in Mar 2021 and a record low of 31.8 % in Sep 1974.
Russians won’t feel a 33% income tax hike in their pocketbook?