Center on Budget and Policy Priorities gives us the following chart:
Paul Krugman has a “casual" (non-formal) reading of it:
Aside from the low-tax status of the United States, it’s interesting to note that all the European crisis countries have relatively low taxes by European standards. I wouldn’t claim that this is a causal relationship — but it certainly puts the lie to those claiming that big welfare states were somehow responsible for the crisis.
So the myth that high tax causes economic problem is busted, but I’m sure it will come back to haunt us as a zombie in the future.