Well, is the economy actually booming? Its the age old question. There is really no rigorous definition of what that would even mean.

-Stocks and real estate are up, which is a sign of inflation or at least the expectation of inflation (people expecting the fed to pivot, or thinking the fed didn't go far enough to break inflation).

-GDP? Is it up, is it down, does it matter? It also isn't a great measure, government spending accounts for (IIRC) more than 50% of GDP, and there is no accurate measure of inflation adjusted GDP since we don't have an accurate measure of inflation to begin with.

-Unemployment was low last I checked, great, its so low its almost negative, wait, people have multiple jobs because they can't afford rent.

-Consumer spending? If inflation expectations among the public are prevelant, then consumer spending will be high.

Then, they aren't taxing everyone, businesses can avoid taxes by making investments. I don't think changing that fixes things, due to the slowdown in economic activity, but its fair to point to the destructive effects it has, like driving up real estate prices, sucking useful bodies up into bullshit jobs, eating the societies capital stock like advanced machinery etc.

What we don't see or have a measure of is how great things would be without regulation, fiduciary credit, and taxes. You can look at the swift kick in the ass the automotive market has gotten from Tesla, as the first company to deliver serious competition in an industry which has been protected religiously. Or AMD under Lisa Su, which took AMD from a second rate brand to dominance in CPU performance and a very competitive split for gaming console hardware. Under a system where you are rewarded for being a behemoth there's no incentive to innovate, so these people are rare, but they give us a glimpse at how things might be if the monopolies weren't protected.

My general outlook on today's economy is that this is probably just the eye of the storm, bailouts, speculation, and time (like, corporate bonds haven't rolled over at the higher interest rates yet) are what's keeping things together, things aren't great, the economy isnt booming, it just looks that way. In 10 years we will look back at this how we look at 2007-2010 now, where the median american lost 45% of their net worth.