Instead of waiting on Congress, the white house should convene a team of some of our smartest Tax professionals to develop a new and complete Tax Code for our country. I believe we should look at all aspects of our current tax code which should include taxes based on profits vs. taxes based on sales. Some type of hybrid of the two is what I imagine. Any citizen that makes less than $40,000 years should pay little or no taxes. Get rid of as many loop holes as possible. Cap corporate taxes at 20% on the profit side and add a 1% sales tax on everything that is sold in this country.
American companies that chose to locate their businesses outside of america, but sells their goods and services primarily to america, should be required to pay added taxes of 5% over the base amount.