Reply #7: He's Roughly Correct on % Taxes

[MannyGoldstein]

Even a stopped clock is right twice a day...

As of a few years ago, the median worker spent about 50% of their paycheck on all taxes - and that doesn't include nonsense like the store owner's property tax.

- Federal income tax
- Federal payroll tax (Social Security/Medicare)
- State tax
- Sales tax
- Gas tax
- Sin taxes

etc.

(Of course, the wealthy pay a far lower %)

He's wrong that European countries have 80% taxes and 40% unemployment - they pay a little more than we do, but they also get health care for it. All told, they pay less for taxes+health care than we do. And their unemployment is measured differently - all told, their unemployment is roughly what ours is. And it's concentrated among young workers trying for their first job - older folks don't get dumped at 60, and have to start looking for a new job.

The new tax break is better than nothing, but nothing to brag about.