We could but it would take a couple of highly improbable moves by government.
First the government would have to eliminate thousands of regulations that would free up tons of fettered productivity.
Second the government would have to drastically reduce or eliminate the capital gains taxes. This would increase the investments in productive ventures.
Third reduce or eliminate the corporate income taxes. The US has the highest corporate income taxes in the developed world. Making the US competitive in the industrial world for capital investment would return productive industrial development to the most productive country in the world.
If the Federal government would get out of the way the US could grow its way out of the fiscal hole in to which we have dug ourselves.
More people with jobs would pay more in taxes and reduce the number of entitlement seekers.
You left out abolishing SS/Medicare and a host of other un/extra-Constitutional ‘mandatory’ spending programs. Let alone institute a national sales tax (after abolishing the 16th)...so EVERYONE has skin in the game.
Getting gov’t out of the way of biz does nothing for the taxpayers when gov’t keeps adding to the bill...