The future is bleak (to say the least)
"Government spending in the United States is 42.2 percent, but revenues are 24 percent the widest spending/taxing gulf in any major economy." http://www.ocregister.com/opinion/percent-379256-government-spending.html
Then, as noted here, "68% of the federal budget is taken up by entitlements and debt service, alone. We could eliminate the entirety of the rest of the federal government and, at current rates of taxation, would still run a deficit."
So...what other option is left? Either hyper-inflation or a collapse. or...deal with entitlements which noone is willing to do. Raising taxes on the wealthy doesn't even begin to resolve this. It's not enough. It's like trying to put out a house fire with a squirt gun.