When I look at ratios of income there is no doubt higher taxes come into play. Home values went from 2.5 times income to 5 times. Total taxes paid today, no matter who you are, is about 55%, as the federal, State and local government spend 55% of GDP.
Higher taxes, new taxes, new and higher fees, more and more government regulations that drive up the cost of construction, manufacturing, tranporting goods, operating a business.
Yet the "experts" are at a loss when it comes to explaining why more jobs aren't being created.