Amendments to existing tax policies can have a significant impact on the economy and society. Here are some potential amendments that could be considered for the betterment of the future:

1. Simplify Tax Laws:
   • Consolidate and streamline tax laws to reduce complexity, ambiguity, and litigation.
   • Eliminate unnecessary provisions, duplicates, and contradictions.
   • Make tax laws more readable, understandable, and accessible.
2. Reduce Tax Rates:
   • Gradually reduce tax rates for individuals and businesses to encourage economic growth, increase disposable income, and boost consumer spending.
   • Implement a tiered tax system with lower rates for lower-income individuals and businesses.
3. Increase Exemptions:
   • Increase exemptions for essential items like food, education, healthcare, and housing to reduce the burden on low- and middle-income individuals.
   • Introduce new exemptions for essential services like public transportation, utilities, and essential goods.
4. Implement a Progressive Tax System:
   • Move towards a more progressive tax system where higher-income individuals and corporations pay a higher effective tax rate.
   • Implement a wealth tax or a financial transaction tax to address income inequality and reduce wealth concentration.
5. Improve International Tax Cooperation:
   • Strengthen international cooperation to combat tax evasion and avoidance.
   • Implement automatic exchange of information (AEOI) to reduce tax havens and increase.