Of the six policies economists love, but politicians hate, my favorite is easily:
Four: Eliminate all income and payroll taxes. All of them. For everyone. Taxes discourage whatever you’re taxing, but we like income, so why tax it? Payroll taxes discourage creating jobs. Not such a good idea. Instead, impose a consumption tax, designed to be progressive to protect lower-income households.
Of course, this would never, ever work.
The reason should be obvious; if we only tax consumption, the wealthy will find ways to consume things in a way which avoids the tax. A cash economy will flourish, and the middle class, increasingly reliant on credit to make ends meet, will be caught in the middle.
If we can’t figure out a way to reliable tax millions of dollars in income, how exactly does anyone think we’ll be able to reliably millions of dollars in goods?
Still, utopian thinking is fun.