The Decline of Science and Technology in America
America becoming the biggest power on earth had more to do with WW2 smashing the other powers flat and leaving America relatively unscathed.
America losing its edge now has a lot to do with China and India having several decades of relative peace and a population that massively outstrips America.
And America did seem to work surprisingly well 80 years ago.. Of course, that's 1925, 5 years later it was a complete mess that lasted for a decade.
In other words, America's overall tax-rate actually has very little to do with its overall performance.