There is (clearly) a PERFECT BALANCE between TAX REVENUE and the TAX RATE: Too high a tax RATE, and tax REVENUE decreases... Clearly, a tax RATE of ZERO would generate ZERO revenue.
The UNANSWERED QUESTION is: What IS the PERFECT (low) RATE that maximizes REVENUE?
Unfortunately, we have ONE political party which believes that RAISING RATES increases revenue (despite the EVIDENCE to the contrary).
As long as THAT party is in power, we will NEVER be able to find that PERFECT RATE.
Clearly, over the past MANY DECADES, we have had congresses which have OVER-SPENT like there's no tomorrow... Well, it's tomorrow!