I'm a big NRSTer myself, but if you're going to go as far as you're proposing, why not just do the following:
Repeal all federal taxes and simply print the money needed to run the government. Honestly, it would probably be better than the current system, which discourages saving, hard work, investment, and productivity gains.
Maybe we'll couple this with a massive tightening of the Fed. After all, so much money will be floating around the economy (no federal taxes) that savings rates will sky rocket and bank reserves will go up, suppressing interest rates while keeping inflation low.
Let's just call a spade a spade and implement a 3 - 5% tax on all national wealth through overt inflation (printing money).
3 - 5% on EVERYTHING! Now that's a Flat Tax!
The printing money scheme has been tried (most conspicuously in the Weimar Republic in Germany)and the resultant inflation was so horrendous that workers were paid twice a day then HURLED the Deutschmarks out the window of the factory to their waiting wives so they could scurry to the local shops to BUY what they needed before the shopkeepers raised prices (which they did several times a day).
The current income tax is a solution to that problem as it allows the Fed to vacuum the excess fednotes from the system BEFORE inflation becomes so noticable that even the dullest among us can really get a fix on what's going on here.
Oh yes, one more thing: THERE IS NO MORE "MONEY" CIRCULATING HERE.
LoL so you think inflation will lower interest rates?