Eliminate capital gains all income is taxed as earned income.

Eliminate all deduction except primary residence and dependents.

Since all deductions are eliminated lower tax rate to the effective tax rate for that tax bracket.

We've just closed all the loopholes, and given most people a tax break.

Add two new tax brackets: >$5M with a tax of 45% >$10M with a tax of 69% (back to the good old days).

This simplifies tax for everyone, gives all but the 1% a tax cut, eliminates all the loopholes, makes auditing a breeze, because it simplifies everything the size of the IRS can be reduced and their effectiveness can be increased.

There are about 16,000 people in the U.S. negatively impacted by these changes. For the other 353 Million people it's a huge plus.