Personally I would like to see us reduce the deficit by about $600 billion/year. Increase revenues by about $200 billion/year, cut about $200 billion/year from the military and cut about $200 billion/year from domestic spending. That should put us about on track to be balanced as we come out of the recession.
But from a deficit perspective, fighting tax increases is exactly the same thing as fighting against spending cuts. A $1 tax break means $1 more deficit just like $1 of spending does.