The USA will increasingly morph into an economy dedicated to providing goods and services for those receiving Government welfare: the aged and under-employed.

Europe is ahead of the curve on aging and devotes a huge amount of welfare to its non-European population.

By contrast Taiwan is ethnically homogenous and can 'afford' to have very low tax rates: https://shieldgeo.com/payroll-and-tax-in-taiwan/

eg. 5% VAT vs 20% in Europe, 3% combined payroll tax vs 40% in Europe.