> All-in-all, Americans pay ~26% of their GDP in taxes.
It's more like 35%-36%.
The far more accurate picture is that the local + state + federal spending is going to be around $9.5 trillion in 2023. The IMF has the US at an estimated $26.8 trillion GDP for 2023. Beyond the federal government, the US has two other massive layers of government that spend well over $4 trillion each year.
I fully understand the difference between taxes and spending, and that spending comes out of your pocket either directly via taxes or via inevitable currency debasement (look at the enormous value loss in the dollar since the rampaging deficits & later debt monetization began after 9/11). The bill comes due, period.
No it really depends on the state. Washington would get me much closer to 25 percent. Plus as a tech worker you're making at least double what your counterpart in Europe is making (especially considering the insanity of taxes here) so you need to factor in a lot more variables than what I see most commenters doing for total take home.
It's more like 35%-36%.
The far more accurate picture is that the local + state + federal spending is going to be around $9.5 trillion in 2023. The IMF has the US at an estimated $26.8 trillion GDP for 2023. Beyond the federal government, the US has two other massive layers of government that spend well over $4 trillion each year.
I fully understand the difference between taxes and spending, and that spending comes out of your pocket either directly via taxes or via inevitable currency debasement (look at the enormous value loss in the dollar since the rampaging deficits & later debt monetization began after 9/11). The bill comes due, period.