- End the Hollywood Tax Exemptions
- End all subsidies (ethanol, agricultural, "green", whatever). The federal government shouldn't be supporting any business sector for any reason. If they can't make a business plan that works, then they should fail.
- Place severe limits on tax-exempt organizations to hoard funds. Congress should require them to spend at least 10 percent of their endowment each year, or better yet, eliminate NGO's tax exempt status that aren't religious based groups.
- Place sharp limits on the charitable deductions. Allow no more than a $50 million lifetime limit; better yet, place a $1 million to $5 million annual limit.
- Limiting the pay of nonprofit leaders (including university presidents and foundation heads) to no more than the pay of a member of Congress or a Supreme Court justice.
- Cap the mortgage interest deduction so houses worth more than $250,000 are ineligible. OR limit the deduction amount to $250,000, and anything above that would be taxed.
- End deductibility of state and local property and income taxes.
- Eliminate all loopholes in the current income tas structure by passing a flat income tax...with the only exemption being poverty...
- AND, and a 50% surtax on all former federal employees (no matter what agency/government branch they worked for). [ht instapundit]
Furthermore, most of these taxes would end many of the subsidies upon which the Democratic party depends. By forcing people in blus states to pay more in taxes (by eliminating that deduction for state/local taxes) it would in effect, put a large crush on those states to spend less...as thier taxes bases wouldn't have less money to spend...
As a conservative leanding individual, I have opposed subsidies to any business. Basically, I'm fundamentally opposed to government supports of business. Either a company can survive on it's own merits...or it will fail, leaving room for others to step in with better plans. I also oppose subisdies for agriculture. Why in G-d's name are we paying/forcing farmers to either NOT grow food, or to turn food into fuel. That makes no sense at all.
By passing a "flat income tax", and eliminating all the current loopholes of the warped, cracking system, the GOP can show just how hypocritical Democrats and the Democratic party is.
In closing, with the "fiscal cliff" looming, the GOP leadership, if they don't sell out the country by submitting stupidly, has the opportunity to literally turn the entire equation around and place the Democrats in the position of trying to cover their asses...