End the corporate tax deductions for sporting events which drive up ticket prices. Then more people could afford to attend the events. OR eliminate the tax exemptions of sports teams and leagues. One or the other. If professional sports are only a business and not a public service, then they should pay full corporate taxes...
Implement Warren Buffett's proposal for a federal minimum effective tax rate of 30% on those with income over $1 million and 35% on income over $10 million, considering all sources of income (e.g., wages, capital gains, carried interest, and dividends). The top 400 taxpayers paid an effective federal tax rate of 26.4% in 1992 but 19.9% in 2009. This is known as the "Warren Buffett Rule" based on his NYT Op Ed "A Minimum Tax for the Wealthy" in November 2012.
Eliminate the cap on social security contributions. Make all income, including investment income, subject to social security tax. Create a benefit plan that decreases benefits as income from other retirement sources increases. This assures that the wealthy assume more responsibility for the welfare of those who contributed the labor that resulted in their accumulated wealth. The wealthy would have only contributed a small percentage of their total earnings and kept the largest percentage.
Reinstate higher top tax rates on earnings over 1 or 2 million no matter what type of income it is. Dropping the top tax rate in the 1980's incentivized the preditory economy of mergers and acquisitions, high executive salaries and Wall Street speculation resulting in a boom and bust economy where most of the wealth is going to those at the top. This tax increase would ripple through multiple issues.
Apply a severance tax on all oil and gas development on public lands. Direct this FIRST towards paying off the national deficit, SEND towards paying any Social Security IOUs, then THIRD to properly equip the next generation with the skill sets required to meet future economic requirements (e.g., restore the "High" in high school.). This works well with the National Employment Recovery Act and the Bring Jobs Home Act.