Judging by the size of the debt and the deficit, no, we are NOT taxed enough.
@jmyrlefuller Set tax rates anywhere you want. No matter where you set rates, the net for the government will be 19% of GDP. So anything over 19% will have to be borrowed/stolen/etc.
Setting tax rates determines GDP. If you want to go back to post-WWII rates, set the top rate at 91%. Growth will suffer, but you can pat yourself on the back by sticking it to those greedy capitalists. And at the end of the year, you will find that government ended up with 19% of total GDP for the year.
Or you can set a flat tax rate of 19% with no deductions. Everyone pays 19%. Everyone. Growth will skyrocket. Democrats will complain, and at the end of the year, you will find that government ended up with 19% of GDP.
So which do you choose? Option 1 or Option 2?