Yes, sure, you can always work out the numbers. If you skip unemployment insurance and some minor previdenciary collections you can get it to around 65%. But that won't make you attractive to the workforce in question. And, of course, you can always balance it with some contractors, at your own risk.

I think that with typical US "glasses" on, 56% is more or less equal to 100% when it comes to taxation. :)

Of course, this is me being a bit prejudiced, but I think there's a least a bit of truth in there.