Eliminate income tax, which disproportionately affects the lower classes and instead implement a sales tax on all stock, bond, and mutual fund trades. The elites who pay little income tax because they make their money on investments, would pay a fairer amount in a sales tax on trades.
Small investors with a buy-and-hold strategy would only be taxed when they retire and withdraw their funds, which the IRS already does when you withdraw funds accrued tax-deferred.