Even though they live in one of the most indebted nations in the world, economists say that when it comes to taxes, the Japanese have it pretty easy.

According to figures released Friday by the Ministry of Finance, Japanese people will pay 41.6% of their income to the state in the form of taxes and social security fees in the fiscal year that starts in April. That is the highest on record. Social security spending accounts for 42% of the total burden, up from 33.5% two decades earlier.

...