Can you share where you get this numbers?
It effectively indicates that you're working for the manor lord Monday and Tuesday (and Wednesday in France), and are allowed to work on your own field from Wednesday to Friday. At the extreme it is obvious that this would discourage work and starting businesses. If the government took 100% it wouldn't make sense to do anything (legally). Therefore the question is: at what percentage does this start happening too much?
This is an important question, because government budget as a percentage of GDP has been increasing over the last century. At the start of the 20th century this percentage was around 3-5%. Today it's around 40-60%. And it seems to be increasing even today.
People don't like austerity, but if our current system is built on an ever-increasing share of government spending of the economy, then eventually we're going to be hit with austerity x10.