It would be painful for everyone, but there is a way to eliminate the more than $1 trillion deficit in the current federal budget. Experts at the Tax Foundation concluded that by tripling the income tax for all earners, the $1.5 trillion hole in fiscal year 2010 would vanish. This would mean, for example, the lowest tax bracket (for those making under $16,750) would shift upwards from 10% to 27.2%, and those in the highest bracket ($373,601 and up) would watch their rate skyrocket from 35% to 95.2%.