Yes, taxes are higher. OTOH, no medical insurance (part of the taxes); No costs for schools, including through universities; no costs for public transportation; etc. etc. etc. 
Basically, they minimize their govs, and then have them do the smart things, while making better use of capitalism than China or even America. 

All in all, when we look at costs, the swiss and northern EUrope have much high living standards than America due to making smart choices.