The one entity that can mitigate our indebtedness to bankers is blocked from doing so by economic falsehoods and misconceptions promoted to preserve the status quo of serfdom. That entity is our democratically elected Congress that has been authorized (and mandated) to create money "for the general welfare" via Article 1: Section 8 of our constitution.
By artificially connecting this authority to the authority to levy taxes, creating the illusion that spending for the public purpose must be "paid for" by extracting equal amounts of money from the economy or facing devaluation of the money supply, the ability of the people to vote their own best interest is controlled by the donor class that decides our elections and has purchased our government. The fear of losing what little value they still retain in their share of the vast wealth of our nation has caused them to adopt safeguards for the very people who would make them wage slaves without recourse.
When you must speak to injustice in the language of your oppressors you are doomed to perpetuating that injustice, and most of what the average voter "believes" about economics is false, but relatable in that language. The words deficit and debt are used to express what are better described as gain and surplus when the proper perspective is applied. All things created must have an origin and a destination, including our currency. The debt of the originator is the surplus of the receiver and the receiver is never responsible for repayment of the debt that it cannot create.
The debt of the currency-issuing government acts as the net money supply, able to net retire personal bank debt or be net saved as wealth, for the non-government sectors (including states and foreign holders of debt). True growth, not balanced out by private debt and interest on that, can only be funded by new money creation in the economy. If that money creation is insufficient to pay down private debt the economy will suffer frequent bubbles and busts (the business cycle) and if the new money creation is balanced with taxation (money destruction) or misdirected, deep recessions and depressions are unavoidable.
The banking industry functions via charter/franchise of the US dollar, granted to it by federal law, and that means that the industry must be protected by creating money necessary to "bail out" its poor management during economic downsides, guaranteeing it profitability and giving it the authority to foreclose on private property rights when it makes poor decisions/investments. This means that it will steadily increase its wealth, regardless of its decision making prowess, either via government money creation or confiscation of property.
The people have the power to curtail this damaging practice if they understand how their wealth is tied to the democratic process and the governance they choose for themselves. The fear of the banking industry and the wealthy in general, is not that they will be taxed, but that they will be made irrelevant to the well being of our society by fiscal spending and regulations that benefit the populace.
