If the income tax rate of the average earner is increased by one percent it will mean the difference of a few dollars less in their paychecks. But for the billionaires and multi-millionaires who have become excessively wealthy because of incremental reductions in the progressive tax rate the difference will be sufficient to pay down the deficit.Cutting taxes would be great. I'd love to have more money in my paycheck. Not sure why you think being affected by allowing me to keep more of my hard earned money would be a bad thing.
And unless one is in the $250k+ earning bracket a restoration of the pre-Reagan progressive tax rate will not affect him at all.
And who are you to determine who is "excessively" wealthy? Why do you get to determine when someone has enough?
Easy. The answer to both of your questions is having more then he does...