(FORTUNE Magazine) – There's something to annoy everyone in the new deficit-reduction package proposed by House Ways and Means Chairman Dan Rostenkowski. That's the beauty of the plan. His idea is comprehensive, centrist -- and would yield a budget surplus of $34 billion by 1995. It combines spending cuts -- including a one-year freeze on increases in Social Security benefits -- and tax increases. The marginal rate for the country's highest earners would go from 28% to 33%, and taxes on gasoline, beer and wine, and tobacco would rise. Conservatives and liberals alike have big complaints, but they all think the plan has some merit. That alone sets it above all other budget proposals of the past year. Even so, Democrats in particular are muting their enthusiasm until they get a signal from the White House. Says a Democratic congressional aide: ''No one wants to go out on a limb calling for taxes and have it chopped off by ((Republican National Committee Chairman)) Lee Atwater and President Bush.'' Next: without doubt, endless negotiations. Says Pam Pecarich, a tax law specialist at Coopers & Lybrand, an accounting firm: ''There's plenty to quarrel over, and it will probably be changed substantially. But if Congress and the President pick it apart too much, we won't end up with any package at all.''