You talk about the US, but look at countries where the state is both heavy on taxes and inefficient. The point is that you delegate decisions on what do do and how to do it to very few people. They can be good, or be bad. Diversifying on an entire market is better.
The only thing that can save middle/low class consumers is the hope that the state won't increase taxes faster than we can save money. A culture of proper saving, of not falling for luxury items presented as necessary by our peers (or companies selling them), is the only way out. Focusing on what matters.
Most of us are instead living in the illusion that we can live a luxury life.
