Limit the dollar amount that can be claimed as capitol gains to $50,000 per individual and $100,000 per family per year.

One of the many loop-holes in our current tax code allows people to claim far too many types of income as capitol gains and then to pay only 15% on that income. A more fair approach, which would still maintain the incentive to invest, would be to limit the amount of income which could be claimed as capitol gains to $50,000 for individuals and $100,000 for couples. Any amount above that would be taxed as ordinary income. To provide a fair transition and a short term boost to revenue, a one-time rollover clause could be used whereby people could choose to pay taxes on investment gains as of a predetermined date at the 15% rate, IF the money was left in the investment for a set period of time after this date. Gains could be spread over several years for one-time property sales.