it would be easy to get the deficit under control with modest tax increases and spending reduction

Here is a quick rundown of some proposals, calculated by chatgpt

Here’s a breakdown of the **estimated annual revenue gains or savings** from each of your listed policy options:

—

### **Wealth Taxes**

**Top 1% of Wealth: approx. $50 trillion**  

**Top 2% of Wealth: approx. $70 trillion**

| Policy | Revenue Gain (Annually) |

|——————————————–|—————————–|

| 1% tax on top 1% wealth | $500 billion |

| 2% tax on top 1% wealth | $1.0 trillion |

| 1% tax on top 2% wealth | $700 billion |

| 2% tax on top 2% wealth | $1.4 trillion |

—

### **Income Taxes**

**Top 10% earners: ~$6.5 trillion annual income**  

**Top 20% earners: ~$9.5 trillion annual income**

| Policy | Revenue Gain (Annually) |

|——————————————–|—————————–|

| 10% increase on top 10% income | $143 billion |

| 10% increase on top 20% income | ~$209 billion |

*Note: These are based on a ~10% relative increase in effective federal income tax, not a flat 10% income tax.*

—

### **Spending Cuts**

**Federal spending (excluding Social Security): ~$5.1 trillion**

| Policy | Savings (Annually) |

|——————————————–|—————————–|

| 10% cut to all non-Social Security spending| ~$510 billion |

—

### **Quick Summary Table**

| Policy | Revenue/Savings (Annual) |

|——————————————–|—————————–|

| 1% tax on top 1% wealth | $500 billion |

| 2% tax on top 1% wealth | $1.0 trillion |

| 1% tax on top 2% wealth | $700 billion |

| 2% tax on top 2% wealth | $1.4 trillion |

| 10% tax increase on top 10% income earners | $143 billion |

| 10% tax increase on top 20% income earners | $209 billion |

| 10% cut to non-Social Security spending | $510 billion |