Two ways to close the deficit

1. Raise taxes - everyone who is doing OK has to chip in a bit;
   
   Those who aren't (a smaller number) don't (since they aren't paying taxes).
   
   
2. Cut spending - those who are doing OK continue blissfully unaffected;
   
   Those who aren't (a smaller number) bear the brunt
• through public sector job loss,
• private sector redundancies that accompany economic contraction (see a) and
• in cuts in essential support and services to the less advantaged (those in a and b).

Should 100 million quite well off people pay $x or 10 million people who are struggling pay $10x? Take your pick...