tldr: The technology isn't the only thing that's over 100 years old, the business practices are also extremely broken too. And telcos are not an honest bunch.
If you're worried about someone spoofing the source of their call you should probably consider using SIP over TCP, although it is unlikely that rest of the world is going to follow suit any time soon.
And no, first-world telcos wouldn't be capable of providing what you want without massive overhauls either... Nor would they want to since there's a plenty of business critical applications that depend on this behavior.
I highly doubt that it would be hard for telcos to implement such a system. I have no doubt that they don't want to, as evidenced by their decision not to in the face of strong demand. I can certainly understand that they might have lots of businesses interested in preventing such a change, but I'm not aware of how legitimate businesses would be harmed. All they need to do is ensure that when they call me they deliver caller ID information that corresponds to a real number that can be used to identify them to the FTC when I file my complaints.