"The U.S. government spends money that it doesn't have and gives away almost 50% of its tax revenue through foreign aid and welfare"

LOL...the foreign aid budget of the USA is something around $30-50 Billion/year (or around 1% of the U.S. federal budget), and welfare was "reformed" back in the 1990s. It's not a significant portion of the USA federal budget anymore.

http://www.pbs.org/newshour/rundown/2012/02/how-much-does-uncle-sam-spend-on-foreign-aid.html

http://www.politifact.com/truth-o-meter/ statements/2011/apr/13/barack-obama/barack-obama-says-foreign-aid-makes-1-percent-us-b

I personally think that the USA should spend less on foreign aid (see below), but one can't balance the budget just by slashing foreign aid alone.

"If taxes are raised, they should be raised on everyone. To balance the budget you would need a 88% tax on the highest earning bracket, and after the taxes, they would actually be making less than the lower class. Taxing one group more than another is unfair, biased and immoral"

...in your wild, Right-wing fantasy world that is...ugh... Progressive taxation is another completely non-controversial issue, except on the far Right-wing in the USA. Ending the GWB tax cuts (for mostly the rich ) & taxing millionaires at a slightly higher tax rate would yield another $3-4 Trillion in federal revenue over the next decade of so. Raising taxes on corporations, especially multi-national corporations, & hedge fund managers would yield another $100 Billion or so in federal revenue over the next decade or so. Eliminating unnecessary tax breaks for extraction (like Big Oil) & toxic chemical industries would yield another $70 Billion or so in federal revenue over the next decade or so. Limiting charitable giving and state & local tax deductions would yield another $1 Trillion or so in federal revenue over the next decade or so.

Keeping the estate tax at the estate level of $3.5+ Million (which will affect 0.5% of all estates) will fund around 27% of the projected, long-term Social Security (SS) shortfall. Bringing the SS payroll tax back to its historical level of taxation (around 90% of income) will fund around 40% (or around $550 Billion over the next decade or so alone) of the projected, long-term SS shortfall. Gradually raising the full SS retirement age over time to age 70 will fund around 35% (around $110 Billion over the next decade or so alone) of the projected, long-term SS shortfall. Extending SS coverage to more state & local govt. employees will fund around 10% of the projected, long-term SS shortfall.

Is there federal spending that can be cut as well? Sure, including around $110 Billion or so in unneeded "defense" spending, around $200 Billion in foreign aid, ending the failed No Child Left Behind nonsense (around $100 Billion) and reforming farm subsidies (around $10 Billion) all over the next decade or so.

Only through a balanced approach of spending cuts & increases in revenue can the federal budget be balanced over the long-term.

"Forced redistribution of wealth is extortion and theft"

LOL...again, spoken like a true member of the far Right-wing. The idea that taxation somehow equals "theft" is a wild assertion at best. Run along now...