OK, so that covers the first sentence, except maybe "because of entitlements." (Although you'll note that without TARP we'd be just about breaking even in that

OK, so that covers the first sentence, except maybe "because of entitlements." (Although you'll note that without TARP we'd be just about breaking even in that scenario.) It doesn't cover the second half, which claims that taxing "the rich" at 100% wouldn't cover the deficit even though the total income of the richest 1% of Americans is almost as much as the entire federal budget. (23.9% of income, GDP is 14.27T, 14.27 * 0.239 = 3.41T)