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Nothing of what you said changes my original point: We live in a mixed-market economy. The government manages some buffers (food, oil). And I'd really like to

• chiefalchemist 4y ago
  At first, half sounds like hyperbole, I'll give you that. But then think about all the various taxes we pay directly (e.g., gasoline, internet and phone services, etc.). Then add on the taxes that are embedded in the costs of any of the other goods we buy. It adds up. Finally, if you consider The Fed a government agency, any time The Fed devalues your money (i.e., "prints" money and creates inflation) that's also all but a tax. That is, we have less to spend. It might not be half, but it's certainly significantly more than your income tax rate.
  • freen 4y ago
    Exactly. If you live in a major metropolitan area, or own a home that has rapidly appreciated, well, it all adds up quickly. Also consider: import taxes raise the price of goods, and thus are a wealth transfer from consumers to producers. Sugar is the classic example: import tariffs increase the effective tax burden of the lowest income quartile substantially, as they spend a larger percentage of their income on food. Anything with high fructose corn syrup, sweetener, or sugar is more expensive. And the corn farmers get that money.