Federal, state, and local governments extract approximately $818,000 from the median worker earning $60,000 over a 40-year career: $240,000 in federal income taxes, $367,000 in payroll taxes (the full economic burden, including the employer share that would otherwise be wages), and $211,000 in state and local taxes. For the $250K earner, the figure reaches $4.46 million. For the $1M earner, $19.7 million.
The Honest Acknowledgment: You Received Some ServicesUnlike the fractional reserve banking extraction — where the wealth transfer produces no benefit whatsoever for the worker — government taxation does fund services that people use. Roads, courts, national defense, law enforcement, fire protection, public schools, Social Security, Medicare, and Medicaid are real services delivered to real people. This analysis does not pretend otherwise.
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