It is about spending - overspending by government.
Government Spending To GDP in the United States averaged 37.20 percent from 1970 until 2020, reaching an all time high of 44 percent in 2020 and a record low of 33.40 percent in 1973.
Why is the government allowed to waste so much of our hard earned income on themselves and their friends?
https://alfred.stlouisfed.org/series?seid=FYFRGDA188S&utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=alfred
And tax receipts have never exceeded 20% of gdp no matter the tax rate.