I am okay with everyone taking a paycut, starting at the top. I always love how they say that "most" word, which usually means the lowest paid workers anyway, who don't have a lot of control or choice.
You want to cut spending, then start at the top with the federal government. First start by putting our congressman on an hourly wage and make them puch a clock everytime they are "working". Then because they are don't work full-time, they should get part-time benefits. Fred Smith at FedEx cut all his upper management's salary last year, starting with his. Furthermore, he cut his at a higher precent then his management. I especially am impressed with him doing this because he founded that company and built it up from the ground, unlike these people we have in our government who got there by way of a popularity contest.