Radically reform the current income tax system leaving only deductions for home mortage (for only one residence) and for medical expenses out of pocket and charitable deductions and expenses for college or vocational training and retirement savings. ALL other deductions are gone. PERIOD. Lower income tax rates on top three highest. Add and slowly begin transition to a value-added tax excluding anyone at 200 % of the poverty level from paying any taxes(through rebates). Those who spend more should pay more taxes. This will encourage movement from consumption to savings.
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