Ok, too much to respond to, I'll just make a few points.
1-The democrats are not trying to "soak the rich, big time". Going back to Clinton era levels is not pre Nixon or pre Reagan. Not draconian at all. Poor little rich folk. Waaah.
2-I agree that raising taxes on the rich alone won't come close to raising enough money to fix the problems.But it's what they can get right now. It's not just the democratic base that won't accept tax increases on the middle class, it's the whole country. You can't get elected proposing raising taxes. Americans feel way too entitled, but we don't want to pay for anything. Plus Obama based his campaign on not raising middle class taxes, it would be kind of hard for him to go back on that now. Maybe he could get away with lowering or eliminating some deductions in a deal with the republicans. Personally I would have no problem with everyone going back to Clinton era tax levels, but once you give those tax cuts it's extremely hard to take them back.
3-There is absolutely, 100% , no way we can cut our way out of this mess. Anyone with a brain knows that. Even the group of CEO's of major corporations is calling for a combination of cuts and tax increases. Also, the same with the bipartisan super committee. Plus, basically any reputable economist. It's no secret what needs to be done, it's the political will that is not there. We need a large group of patriots willing to commit political suicide. The president can't do it. Congress is in charge of paying the bills. The president can only make proposals and use the bully pulpit.
"Machete don't text"