The bracket taxable income for those in the 35% bracket is $733.3 billion. Here is the government data.
4.6% of $733.3 billion is only $33 billion.
We just spent $400 billion on Fannie-Freddie in the first six weeks of the year that Orszag testified in writing would probably cost us nothing. Raising the top marginal rate to 39.6% does not address anything. Ten years of this tax increase would not fund what they just spent, even assuming no Galt effect. It is just more deception from the Obama Administration.
Obama does not speak without a teleprompter any more. Who is writing his words? What is their agenda?