My recollection is that all U.S. governments spend 35% of GDP, sourced from all varieties of taxes and debt.
Next, about 10% of the U.S. economy is subject to coercive regulation that amounts to a pure government encumbrance of productivity, i.e. a tax equivalent.
So, I think the true total “tax” take is around 45%.
Therefore, we could cut taxes in half (towards the 22%) and the economy and Treasury receipts would boom!
But Democrats would get fewer “envy” votes, so it’s a non-starter.
Proving Democrats care about power, not ameliorating any actual problem with the increased revenues that would result.
Yes, it's all about power, which is the ultimate aphrodisiac of politicians.
From Heritage Foundation / WSJ Freedom Index (calculated mostly for the last year, not yet accounting for financial crisis and "The Obama effect," e.g., Unemployment = 4.6% etc) : The United States' economic freedom score is 80.7, making its economy the 6th freest in the 2009 Index. Its score is 0.3 point lower than last year, reflecting declines in five of the 10 economic freedoms. The United States is ranked 1st out of three countries in the North America region, and its overall score is much higher than the world average. The U.S. scores above the world average in business freedom, investment freedom, financial freedom, property rights, freedom from corruption, and labor freedom. The regulatory and legal framework supports entrepreneurial activity. Foreign investment and domestic capital are subject to the same rules. Financial markets remain open to foreign competition and are among the world's most dynamic and modern. The judiciary is independent and of high quality. Weaknesses remain in fiscal freedom and government size. Total government spending equals more than a third of GDP. Corporate and personal taxes are high and increasingly uncompetitive. In 2008, the sub-prime mortgage crisis had far-reaching effects, and the government's unprecedented interventionist measures could severely undermine economic freedom in the future. .....
Country rankings for trade, business, fiscal, monetary, financial, labor and investment freedom - United States World Rank: 6
Regional Rank: 1 of 3
Ten Economic Freedoms of United States
91.9 Business Freedom Avg. 64.3
80.0 Investment Freedom Avg 48.8
86.8 Trade Freedom Avg. 73.2
80.0 Financial Freedom Avg 49.1
67.5 Fiscal Freedom Avg. 74.9
90.0 Property Rights Avg 44.0
59.6 Government Size Avg. 65.0
72.0 Fdm. from Corruption Avg 40.3
84.0 Monetary Freedom Avg. 74.0
95.1 Labor Freedom Avg 61.3
Ranking the Countries - complete Freedom Index table, sorted by score
Another index, more widely used because of longer time span coverage, is Economic Freedom of the World by Fraser Institute
One point of note, however - these indices are generally relative to other countries, not to the previous surveys of the same country, so the erosion of freedom in the country may not always be seen due to higher or faster deterioration of freedoms elsewhere.