1) Consider the possibility of scrapping our current income tax system in favor of a low-percentage no-deductions flat tax or a true consumption tax on new-production goods like FairTax. This would save Americans hundreds of billions of dollars per year in compliance costs and if we implement something like FairTax the savings rate will rocket through the roof because there will be NO tax consequences to saving and investing your assets.
2) The implementation of various forms of excise taxation to discourage the consumption of certain goods. For example, buying a new car could have excise tax rates anywhere from 0% (if you buy an all-electric car) to as high as 25% (if you buy a high-end gas-guzzling luxury car). I mean, would you buy a new Rolls-Royce Phantom limousine costing US$400,000 if you have to pay an excise tax of US$100,000 in addition to the sticker price? The lobbyists will be fighting over excise taxation instead of over income tax breaks.
3) Considering the idea to eventually tie the US dollar back to a mix of precious metals again, given the problems with fiat money.
4) We may see the merger of the US dollar, Canadian dollar and Mexican peso by 2020 in an organized fashion to create a stronger, more stable currency that can compete against the Euro. I would not be surprised that Asian countries may be considering something similar, too.
5) There will be MASSIVE reforms to stabilize the financial markets. Expect minimum margin requirements to start at 20% and be as high as 35% for trading in strategic materials and financial companies. Much of the onerous Sarbanes-Oxley Act will be repealed in favor of the higher requirements I mentioned earlier. We may see a return to many provisions of the Glass-Steagall Act, which means brokerage companies can't have holdings in banks and vice versa (but there will be provisions for fast money transfers between banks and brokerage companies).
Ray, you are right on all this. Only problem is, I’m pretty convinced that these people don’t really want to ‘fix’ this country. There are so many anti-American elements in the ‘American left’ that will keep them from ever doing what’s actually good for the country. They’re still working on bringing it down.