So that means the government is taking more than 1/5 of all the money generated ... | Hacker News

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edgyquant 4 months ago | parent | context | favorite | on: Apple says it will add 20k jobs, spend $500B, prod...

So that means the government is taking more than 1/5 of all the money generated by the US. That’s crazy and no wonder the nation is going bankrupt

airstrike 4 months ago | [–]

It reminds me of the Portuguese court taking 1/5 of all the gold mined from colonial Brazil:

https://pt-m-wikipedia-org.translate.goog/wiki/Quinto_do_our...

s1artibartfast 4 months ago | [–]

State and local governments also take their cut. I believe the total is about 35%.

Important to note that outlays do not equal federal taxes, because spending exceeds revenue by a substantial margin.

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