I'd like to see this archaic and punishing 'income tax', and all other taxes get kicked to the curb in favor of The Fair Tax.
23% National sales tax on most new goods, no more taxes on labor, property, investments, cell phones, electric bills, and no more 50,000 plus page tax code.
Increasing income tax rates on high earners will only entice them to shelter their earnings (or more of their earnings), increasing CG rates will only decrease the amount of realized gains and investment activity, all of which blows big holes in the amount of revenue to the Treasury. Not to mention new start-ups won't be able to start up due to the lack of Angel Investors and necessary capital which equals anemic job growth and zero economic expansion.
When that happens-a huge hole in revenue to the Treasury- the 'middle class' (how I despise that phrase) will really get it broke off up in 'em.
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