in Socialist Europe, 60-70% taxation.
Here on the Left coast, we're already there...
California state income tax is ~10%, California sales tax is 9%, Federal income tax is 36%, SSI 6%, Medicare 2%, plus all the little add on stuff to the phone bill, electricity, vehicle license fee.
Except that my RSU stocks are taxed at 70% of value the day they are granted. So they are basically worthless... (RSUs are Registered Shares that high tech workers now get instead of options, thank the Carpenters Union)
A friend of mine lost his house over RSUs, he did not unload them when he received them. In the 2001 crash, they went from $70 to $13, and the tax bill was 70% of $70, so he had a tax bill of $49 on an asset worth $13. Multiply this by a few thousand RSUs.
The tax man was less than sympathetic.