True, but good luck getting people to vote for their own interests. It's not hard to fix this. It really isn't. But it's nearly impossible to get through to people. As someone else said, at some point you have to make a choice about where you want to live and do what it takes to get to that place before you drown in the sea of marching morons.
By itself it wouldn't be a problem, the problem is at the same time they raise taxes for people doing OK, and salaries are mostly stagnating.