Not at all!
Using some simple online calculators, assuming you earn $125k in San Fran, your take home pay after tax is $85k. In Australia, your take-home pay after tax is $88k (and that includes the medicare levy deduction if you don't have private health cover).
So not only are you being taxed more in the US, you also have to pay for healthcare on top of it. Insane.
if you're working a regular job then that's not true because employers heavily subsidize your premium or pay for it in full if you're working full time.
if you're self employed then your health care premium is 100% tax deductible
So not only are you being taxed more in the US, you also have to pay for healthcare on top of it. Insane.