It's USD, but is OP based in the US? There may also be some other deductions (retirement, etc) that are being taken out which mentally gets lumped in as 'taxes' but aren't taxes.
that's likely not even remotely correct. for someone earning in that range, i'd expect more like 25-30% (including health insurance) - should be less if/when you start to work at tax reduction.
I've been solo contracting for > 10 years and have never had to pay anywhere close to 50% in taxes/insurance.
They do play somewhat of a role, but... again, for someone pulling in $72k - even as a single person, they may be paying ~20% of their income in taxes. Assume $12k for insurance - maybe another 18% - this might be approximately 40%.
Married and with kids might increase health insurance, but would reduce taxes because of deductions.
Locality - local/state taxes might increase this - I'm in a mid-level tax state - not no taxes, but not a New York.
Someone earning $72k who is married would have a $24k deduction - they'd be paying taxes on max $48k. MFJ status with no kids earning $72k would be < $6k in federal taxes.
Single earner at $72k - federal income tax in US is ~$8900. It's not nothing but that's nowhere near 50%.