Funnily enough in the UK they actually tried to fix this. The music industry argued that the lack of a private copying levy made legalized CD ripping into government confiscation of copyright ownership... somehow. The UK courts bought this, so now the UK government is constitutionally mandated to ban CD ripping, which is absolutely stupid.
I knew CD ripping got reversed but not the arguments against it, definitely stupid as not giving a monopoly is not the same as confiscation (seems like a very straightforward reasoning). No doubt done Tory got a 'management consultancy' gig with the RIAA from that one.
I like that it makes software like iTunes contributory infringers for enabling mass copyright infringement.
I presume you mean in USA, because in UK you don't have a general private right to copy. Our "Fair Dealing" is super restrictive compared to Fair Use.