Interesting that you look at that tax burden.. If I might make an assumption, that is likely the exclusively federal tax burden, income tax plus the corporate double taxation. That number fits.
Has sales tax been considered? Property tax? Inheritance tax? The tax of printing money and reducing our buying power?
Yes, the tax burden is in fact approaching or surpassing 50%. Why? Have you looked at the budget? Did you notice it’s 70% social security and medicare? Not to mention plenty of other freebies handed out everywhere.
In my childhood, I used to believe that privatization was bad. I still believe that corporate influences on the government are bad, but I no longer believe the first. I’ve seen first hand the waste on bureaucracy. Worse, we expand the bureaucracy to handle the larger bureaucracy. Even worse, our government is built on rewarding those who spend the most, not who run it in a streamlined fashion.
Government that takes 50% of your income is already teetering on socialism. It’s only a few steps away from removing any sense of merit and removing all the incentives and reasons that created our society, all the way down to the phone I’m typing on.
If you are building a company, the golden ticket to wealth is government contracts. Not creating an amazing product. The golden ticket to creating revenue in the form of billions upon billions is a government contract. Think on that for a moment.