I know I'll get a lot of backlash for this but.. raise taxes on everyone. We need to cut our spending and increase our revenue, and our only revenue income is taxes. Yes, the rich should pay more income tax, and the poor should pay less income tax. Hell, the top tax bracket used to be taxed as high as 90%. Now it's what, 35%? No wonder we can't pay for anything.

$15,000 per person excluded from taxable income ($30,000 for joint filers) -$15,000-50,000 in income taxed at 10% rate -$50,000-100,000 in income taxed at 15% rate -$100,000-infinite taxed at 20% rate Most all exemptions/deductions eliminated. No deduction for having children, going to college, etc. Two that I would keep around are charitable giving and the 401(k)/IRA contributions. You incentivize helping others and saving for your future, not pooping out babies. Capital gains/dividend income becomes tax-free for those making less than $100,000 in income. 10% for dividends/long-term gains, 20% for short-term gains for those above that threshhold.