All joking apart, if Obama REALLY wants to have a GREAT presidential legacy, while he still has the goodwill of the people, he should throw out the WHOLE current tax code and institute an user tax to replace it. As things look Obama is powerless to do anything about the almost certain crash of the economy and will bear the FULL responsibility for it.
Nancy Pelosi is already making the rescue harder with her recently stated, insane tax agenda, again something to be laid at Obama's feet as his catastrophe, so with that LOSE/LOSE prospect on the immediate horizon, then he should take the risk and try to replace one of the "losses" with what would be a highly POPULAR potential "win" and earn the gratitude of the U.S. populace. Brave step of REAL leadership, which Obama has yet to show but possible with his "new generation" public relations and "experienced organizer" methods to help him push through into effect.
At least he would have the excuse that his "heroic" effort to save the USA financially had never been tried before and it required a drastic pathfinder measure to confront a drastic situation. And Obama was man enough to try it. The window of opportunity before Pelosi and Harry Reid bog him down is VERY short.
That confrontation cannot be avoided so if Obama will butt heads with their power, he should have the guts and desire - using his honeymoon with the populace - to win this powerplay and take the Pelosi/Reid tax sabotage being torpedoed at him OUT OF THE MIX!
Sounds over-simplified but he should have his financial people sit and write a FIVE PAGE (yes, make that a criterion) new tax plan along the user tax lines. NO more filing of taxes, no more deductions, no more loopholes, no more pork barrel spending possible. One paragraph could deal with those below a REAL poverty level. Any sin tax would be cofered by the user tax on cigarettes or alcohol etc.
States would no longer have a sales tax but share the user tax amounts with the Federal government which would then have to become leaner and more like our families.
Budgeting will change and be awkward for a pork filled mentality in the Congress and Senate but bold change - IN THE RIGHT DIRECTION - is needed, not toying with it or a similar BIG change in the WRONG direction espoused by Pelosi and Reid.
Start a Brave New World of Change like this and here and now.