Re: Another Example
Taxation is far more than just income tax, even as a child you would have been paying VAT, that will continue into your retirement, as will fuel duty, road tax. Assuming you buy things from profitable companies, there will be corporation tax due on their profits, you may not be liable for that but is you who pays it. If you go on holiday by plane, you are taxed to use the airport. Depending on your value, you may even be taxed for your death. If you buy a house, there is stamp duty to deal with. Do you smoke or drink, don't forget the tax on that too.
After all that, the government still doesn't have enough money to pay for everything so since the early nineties governments have borrowed money, sold off the nations assets, etc... to fund the difference. Eventually we run out of assets to sell and max out the credit card, at that point you get the Greek situation. The reality is we need to look very carefully at the services government provides and get rid of some or improve the efficiency of others until we get to a point that we can afford.