Quote from Ghost of Cutten:
More than half, since you get taxed at 17.5% VAT on goods you buy, and with what you have left, you get taxed on the interest & capital gains (40%/18% respectively). So overall if you make more than £150k per annum then you work about 8 months a year for the government.
This is one of the main reasons I emigrated to a low tax jurisdiction.
Don't think the USA is immune. In the 1930s, the top rate of income tax went up to 79%. And in the land of the "free", you can't become a tax exile either - you are Uncle Sam's living financial asset for life.
