Why is it the fiscally responsible thing to do? Taxing the rich even more, will just make them invest even less in the US. Taxes for the rich in the US, is just as high as the rest of the word, in fact it is higher than many countries. I hope you realize how much they are already paying.
For me your policy sound extremely fiscally irresponsible, because there is no way you will be able to cover the deficit by only increasing the taxes on the rich, and it will damage the economy, because they are going to invest elsewhere.
For me it sounds like you support feel good politics. Feel good policies were one of the main causes for what created this mess in the first place. Such as making a national policy that everyone can get a house, that they did everything to stop the crisis in 2001 so they inflated the bouble, and the budget deficit.
You still haven't responded to the simple question. What makes you think America is so different from Europe, so that America can pursue different policies, but get similar outcomes? In Europe, the taxes are high for everyone, and that is why they can afford a welfare state. America will not afford a welfare state by just taxing the rich.