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Also, house valuations should be revised with a view to increasing the tax take.
The Republicans say rightly that increasing the tax burden would damage jobs and growth.
Brazil is increasing the tax on money flooding into its bonds.
It would give a triple boost to government finances, reducing pension spending, increasing the tax take and boosting economic growth.
Such a simple measure would have the double benefit of increasing the tax take and, hopefully, reducing house prices.
The bill reduced individual income tax rates, but also repealed the investment tax credit, effectively increasing the tax bill for many companies.
Increasing the tax burden on the wealthy, through something like a mansion tax, to reduce the tax burden on others makes a lot of sense, he says.
This would mean lowering the threshold for repayment and increasing the "tax" rate on income above that threshold, as well as raising interest rates for higher earners.
12.21pm BST The Lib Dems like to point out that David Cameron said in 2010 that increasing the tax allowance would be expensive.
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Lib Dems have spent £3,000m increasing the tax-free allowance (as Clegg strangely puts it).
Increasing the tax-free threshold and cutting taxes also boosts incentives to work.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com