1. Capital gains -- make investments directly into companies (i.e. when equity is purchased directly from companies) and direct investments into other, bona-fide capital improvement that provide a good or service for the citizenry (i.e. purchase rental real estate, buy a hat factory, etc) the only investments that have a favorable capital gains tax treatment. Purchasing stocks on the secondary market is gambling; it does not utilize capital in any way that economists say improve the future for the country, and it should not receive a favorable tax treatment that is any different from that received from winnings received betting on greyhounds (the dog, not the bus company).
2. Corporate dividend/interest payments made to investors/lenders -- make dividends almost fully deductible above the line (i.e. before corporate profits are assessed, similarly to how bondholder/financial institution lending is treated now). This will encourage the return of corporate profits to actual investors. Make both interest payments and dividend payments a little less than fully deductible because there is a value added, from a lender/stockholder point of view to a corporation, and that's protection from liability.
3. Transaction tax -- tiny tiny tax applicable to each transaction. This will discourage the meeelllioonnnsss of trades per day that are carried out by the Goldman-Sachses of the world, who leverage this to create profits at no benefit to the country, to the corporations, or to the citizenry.
Flash orders are also called "step up" or "pre-routing display" orders. The rationale for these order types is simple: Better me than you. They allow a venue to execute marketable orders in-house when that market is not at the national best bid or offer, instead of routing those orders to rival markets. They do this by briefly displaying information about the order to the venue's participants and soliciting NBBO-priced responses. If there are no responses, the order can be canceled or routed to the market with the best priceSo, people are going to do this type of thing, they're going to be able to afford to hire programmers to make a better and better algorithm for more and more quickly making trades -- let's just make sure that the country as a whole benefits from this, instead of ends up holding the bag. A tiny tax on these quick transactions is like liquor tax -- in discourages and partially reimburses society for behavior that costs society as a whole.
4. Graduated marginal income tax rates above the Clinton top levels. Clinton was a good President, but Obama is going to go down in history as a better president (he said, with his fingers crossed). Why shouldn't a part of the fiscal cliff negotiations include marginal rates that go beyond $250,000 in annual income? And above the Clinton 39%? After all, there is a huge argument to be made that the financial situation of a couple earning $1,000,000 a year is quite a bit different from that of a couple earning $250,000 a year. Why is dollar $250,001 taxed at the same rate as $1,000,001? I propose higher rates for incomes at the $750,000; $1,500,000; $5,000,000; $12,500,000; and $50,000,000 caps. I propose 41.5%; 43%; 45%; 49%; and 57.5%. That is serious money. They won't miss it.
5. Ditto the estate tax. Why is Bob the Successful Dentist's dollar $5,000,001 taxed at the same rate, on his death, as dollar $68,000,000,001 (yes, that's billion) of the Walmart family? For wealth of this magnitude, $5 million is a rounding error.
You have any suggestions? If so, I'll put them in a poll if there is any interest in this.