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This is not the usual rhetoric I hear. I'm too tired right now to go looking for examples, but the usual line seems to be that even keeping spending where it is (the demonstrations usually involve current budgets, not projected ones), raising taxes on the rich wouldn't affect the deficit. But, those who make those claims will also, in different millieaux, claim that the rich foot the largest share of the bill anyway.
And for both of those statements to be true, the final piece of this apparent puzzle, is SPENDING. Do the wealthy pay the majority of the taxes collected? Yes. Does raising their taxes fix our deficit? Not really, because SPENDING is not being addressed. It was SPENDING that gave us the deficit, not lowering taxes.