We live in a day and age in which our Federal government apparently has absolutely no intent or a plan for it to responsibly run the business of government on a fiscally sound basis. Believing this can continue forever is to believe that deficits don't matter, but they certainly do. To make the point more germane, keep in mind that individuals and corporations that run consistent deficits will have to declare bankruptcy or go out of business because there comes a time when their credit is so poor, and their inability to make payments on their debt appears to be so hopeless that the game is over. To believe, therefore, that governments are not subject to basic balance sheet issues and can ignore such is to clearly read the tea leaves wrong.
When it comes to taxation, it is a big mistake to place an unseemly burden on those who labor for their wages, which represents a significant swath of Americans, because these taxpayers have a lot on their plate already. Rather, it is the largest corporations and those that make their money through passive income, such as the capital gains they get from their investments, or from the money they extract through various "economic rents" imposed upon the people as well as vulnerable institutions, that should be targeted to start paying their fair share, instead.
The thing about the mega-corporations of today is the mammoth amount of profit that they make, in which we find that in 2025, Apple made a gargantuan $100 billion in profit, but paid just $8.1 billion in taxes. This isn't acceptable, and needs to be amended, forthrightly, in which, the escape mechanism that so many of our mega-corporations utilize to reduce their taxation is all the international tax shelters that they take advantage of, by locating their facility, at least on paper to domiciles that lightly tax their corporation.
The change that needs to occur is for corporations to pay all of their legal taxes per a robust United States tax code, regardless of where that profit has occurred, and to provide a credit to those corporations against their tax liabilities for any foreign taxes so paid. If this were implemented, it would increase the tax revenue received from these super-profitable corporations who, to date, have essentially "captured" politicians so that legislation to this effect has not been implemented.
Look, the bottom line when it comes to taxation is to tax appropriately those that have the most money, which are our mega-corporations, and by doing so, we can make progress in reducing our federal deficit, and by not doing so, we will continue to have not a country of, for, any by the people, but rather a nation that is of, for, and by those with the most capital and profit, which happens to be mega-corporations as well as those of great personal wealth, in which neither of these entities are typically appropriately taxed, which is bad for this nation, and especially bad for those regular citizens that simply want to have a decent life, with liberty, justice, and a reasonable opportunity to pursue happiness.