What must be true to eliminate a federal deficit if "the rich" are defined as earning over $1 million a year?

To eliminate a federal deficit effectively, a comprehensive approach that encompasses various fiscal strategies is often necessary. The choice indicating that all the given statements must be true reflects the complexity of the issue.

Firstly, reducing government spending is a crucial step in addressing the deficit. If the government continues to spend beyond its means without corresponding revenue increases, the deficit is unlikely to shrink. This is particularly vital when considering large-scale government initiatives and expenditures that can significantly impact the budget.

Secondly, while increasing taxes on the middle class could theoretically contribute to reducing the federal deficit, it is a measure that can have broader societal implications and is often contentious. However, the focus should be on ensuring that any tax increases are equitably distributed. This is why there's a significant discussion around whether merely taxing "the rich" would suffice to balance the budget.

Lastly, the statement about the deficit not being solely eliminated through taxing "the rich" highlights a critical aspect of fiscal policy. While high-income earners certainly contribute substantial tax revenue, their taxable income may not be sufficient to cover the total deficit, especially if the spending remains high. Relying solely on one demographic could lead to shortfalls when balanced against the entirety of government financial needs.

Thus, acknowledging that all of these strategies