Across the board cuts will never work. Defense spending could easily be cut by 20-30% and its the largest component of discretionary spending and thus needs to be cut more than other areas.
The richest people in America do not create jobs -- Companies / innovation / ideas create jobs not rich people. No hedge fund manager has created more than a couple dozen jobs in their entire career and the billions they make annually shouldn't be taxed at 15% rates compared to other hard working Americans paying much higher rates (35+%) and making far less. Let's apply some common sense to this mess and even the playing field.
Reforming the tax code will take at least many years if not a lot longer (decade +) to accomplish. There's no easy way to simplify the current tax code in any way that would not have massive impacts on the economy, including significant impacts on the employment of millions of people.
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