Why can’t any government in the world aim to tax ultra rich more whilst making easier for small to medium large businesses to thrive. And policies on property supply rather than property buyers like all sorts of first time buyers programs.
Why are only same old policies keep being peddled when the world is still going to shit?
That doesn’t involve reducing the government size and budget entirely or subscribing to any extreme left or right?
In the current pseudo-capitalist world economy, the rich do help in pushing a circular economy, in a variety of industries. If the rich are too taxed they’ll more easily leave the country and move elsewhere. Your country loses a lot of its GDP. It’s a bit of a chicken and egg problem, but it’s also how the government of today runs, where everything is run on credit and paid for later.
Lean-governments are possible, but in such a case a government can never spend more than its GDP produces. No government would go that way right now, mainly because people aren’t educated enough to make a decent argument for it, verbally or otherwise.
Your country either welcomes the rich, or answers to the IMF.
In summary//TL;DR: In a credit-based, credit-ran, loan-promised economy, greatly successful small and medium businesses are not enough to keep GDP high enough to pay off national debt.