The video illustrates the history of taxation based on the evolution of tax revenues, as a share of national income. The data is downloaded from Our World in Data - Link: + Source:Piketty, T. (2014). Capital in the 21st Century. Cambridge: Harvard University Press
In the link you will also find the following explanation Which outlines the mature historical impact on Tax Revenue for the USA, United Kingdom, France, and Sweden.
"As we can see, until 1920 tax revenues were low across all these countries. Indeed, until 1910 less than 10% of national income was collected by these governments through taxation – just enough for them to fulfill basic functions, such as maintaining order and enforcing property rights.
After the First World War, however, taxation started growing considerably. In the period 1920-1980 taxation as a share of national income increased drastically, more than doubling across all countries in the chart. These increases in taxation went together with more government expenditure on public services, particularly education and healthcare.
After 1980, tax revenues started stabilizing, albeit with marked differences in levels for each country. Today these differences remain significant." (
LET ME KNOW WHAT YOU THINK in the comment section below!
My goal with this channel is to break down financial terms and concepts with a straightforward animated approach. I hope to be able to cover topics that you find interesting - whether you are a student or, just, interested in personal finance.
0 Comments