westfw:
(I take home around 1/3 of what my employer pays for me)
not too different from (parts of) the US:
(2013) Top federal tax bracket: 39% + SS: 12% + 3% Medicare + 12.3% State (Ca) tax = 66.3%
Not exactly. Not all of your income is taxed at 39%, not all of your income is taxed at your state max rate either. It's graduated out, and there are exemptions. Turbotax will, for example, tell you your real "effective tax rate". Mine, in 2011, was 19.84% and that on $127,169 of adjusted gross income. How can I complain? I would be surprised if your effective tax rate is actually 66.3%. (This calculation by Turbotax does not include employer contribution. You are including employer contribution. Whether or not doing this is correct is a judgment call.).