Money
Charted: What Frustrates Americans About the Tax System
See this visualization first on the Voronoi app.
What Frustrates Americans About the Tax System
This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.
In this visualization, we show Pew Research’s findings on what bothers Americans the most about the tax system.
This data was collected after surveying more than 5,000 American adults between the period of March 27-April 2, 2023.
The survey was weighted to be representative of the U.S. adult population. Visit Pew Research’s methodology page for more details.
Americans Want More Taxes for Some
Six in every 10 Americans feel that both corporations and the wealthy don’t pay their fair share in federal taxes.
Their sentiments are not entirely unfounded.
| Very frustrated | Somewhat frustrated | Not much/ at all frustrated |
|
|---|---|---|---|
| 🏦 Corporations don't pay a fair share | 61% | 22% | 15% |
| 💼 Wealthy people don't pay a fair share | 60% | 22% | 17% |
| 🤔 Complexity of the tax system | 53% | 32% | 13% |
| 💸 Amount of tax paid | 38% | 33% | 29% |
| 🧑🤝🧑 Poor people don't pay a fair share | 13% | 21% | 64% |
Note: No answer responses are not shown, thus percentages may not sum to 100.
A 2021 ProPublica investigation found some of the wealthiest Americans—also the wealthiest people in the world—did not pay a single penny in federal income taxes in some years.
A significant part of why this is possible is how taxes are collected depending on the source. Since much of the top 1% grow their wealth in equity and property, they are not subject to taxes until they make an actual transaction.
As this Brookings Institution article explains: most Americans make money through their wages, and wages are subject to heavier taxation than capital income. Thus, the tax share of America’s highest-income households is often lower than America’s middle-income households.
Finally, Pew Research noted that their findings were essentially unchanged since 2021.
Markets
Top 10 Countries Most in Debt to the IMF
Argentina tops the ranking, with a debt equivalent to 5.3% of the country’s GDP.
Top 10 Countries Most in Debt to the IMF
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Established in 1944, the International Monetary Fund (IMF) supports countries’ economic growth by providing financial aid and guidance on policies to enhance stability, productivity, and job opportunities.
Countries seek loans from the IMF to address economic crises, stabilize their currencies, implement structural reforms, and alleviate balance of payments difficulties.
In this graphic, we visualize the 10 countries most indebted to the fund.
Methodology
We compiled this ranking using the International Monetary Fund’s data on Total IMF Credit Outstanding. We selected the latest debt data for each country, accurate as of April 29, 2024.
Argentina Tops the Rank
Argentina’s debt to the IMF is equivalent to 5.3% of the country’s GDP. In total, the country owns more than $32 billion.
| Country | IMF Credit Outstanding ($B) | GDP ($B, 2024) | IMF Debt as % of GDP |
|---|---|---|---|
| 🇦🇷 Argentina | 32 | 604.3 | 5.3 |
| 🇪🇬 Egypt | 11 | 347.6 | 3.1 |
| 🇺🇦 Ukraine | 9 | 188.9 | 4.7 |
| 🇵🇰 Pakistan | 7 | 374.7 | 1.8 |
| 🇪🇨 Ecuador | 6 | 121.6 | 4.9 |
| 🇨🇴 Colombia | 3 | 386.1 | 0.8 |
| 🇦🇴 Angola | 3 | 92.1 | 3.2 |
| 🇰🇪 Kenya | 3 | 104.0 | 2.8 |
| 🇬🇭 Ghana | 2 | 75.2 | 2.6 |
| 🇨🇮 Ivory Coast | 2 | 86.9 | 2.3 |
A G20 member and major grain exporter, the country’s history of debt trouble dates back to the late 1890s when it defaulted after contracting debts to modernize the capital, Buenos Aires. It has already been bailed out over 20 times in the last six decades by the IMF.
Five of the 10 most indebted countries are in Africa, while three are in South America.
The only European country on our list, Ukraine has relied on international support amidst the conflict with Russia. It is estimated that Russia’s full-scale invasion of the country caused the loss of a third of the country’s economy. The country owes $9 billion to the IMF.
In total, almost 100 countries owe money to the IMF, and the grand total of all of these debts is $111 billion. The above countries (top 10) account for about 69% of these debts.
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