A 4 tier flat tax on all income (no matter the source), and no deductions. Tiers are based on "excess" income over certain levels. It would be on individual income from all sources (not combined for married people).

$100K pays $8,500 ($100k - $15k * 10%)

$300K pays $33,500 (Max tier I=$18,500 + $100K * 15%)

$750K pays $113,500 (Tier I & II max =$63,500 + $250K * 20%)

All corporations pay 15% tax on a calculated income equal to: Net income plus add back book depreciation and any individual compensation over $1mm (the excess over only), then subtract the US investment write off described below.

All new capital spending "in the US only" would be allowed a 3 year write off to promote US investment (overseas investment gets no capital write-off). Companies still in a loss position after the add backs less capital credit, (ie start-ups and those in financial difficulty) would have up to a 3 year limit for not paying taxes under this structure ... then it would revert to a minimum tax of 3% of revenue.

Going to a "lower rate" on "all income" may be the answer. Instead of a combined 7.65% up to a limit (Medicare already has no cap), go to 4% on all income. It brings in more revenue, the lower income people will pay less for the benefits they ultimately receive, while higher incomes will pay slightly more. The lower rate raises the breakeven point so only the highest incomes will ultimately pay more.

There should be an option to invest a portion of what is contributed above a certain level for new people entering the workforce for the opportunity for a higher payout when they retire … or allow the company match to go in to a 401K or similar plan.