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Only 41% of the Federal Budget comes from the Income Tax. If we cut spending back to year 2000 levels then we could go without an Income Tax. The plan is to get rid of the Income Tax and replace it with nothing.
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source
In 2006,
Individual IT brought in $1,044 B.
Corporate IT brought in $354 B.
Retirement program receipts were $838 B.
All other revenue was $172 B.
Total = $2407 B.
So individual IT brought in 43% of total revenues.
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Your math is wrong. The 838 Billion is for social security. Although we are now running a surplus, we will be running a deficit soon and will need to find money to pay pay the 2 trillion we borrowed from our retirement fund, i.e. social security.
If social security surpluses had been invested into a S&P index fund from its birth, we would have many times more than just a 2 trillion dollar surplus and there would be no talk of it going broke.