If it REPLACES the income tax I am all for it.
What would actually help is keeping the tariffs in place while repealing the Sixteenth Amendment utterly.
Of course, the “programs” that the federal government assumed control of solely as an exercise of power would have to go back to the private sector.
It’s a tax on your past income. And it could be imposed as often as a gov’t wished.
We have had a Funded Public Debt ever since Alexander Hamilton was the first Treasury Secretary- he set up the system, which stabilized the shaky finances of the United States and saved the dollar from the oblivion it suffered under the Articles of Confederation gov’t .
As long as the debt service is a manageable percent of the GDP there is no good reason to pay it off. There was a sinking fund for paying it off in early administrations but when it was paid off the country went into recession.
Investors like the guaranteed return on Treasury paper, which is what the national debt is composed of. Insurance companies and retirement guarantors own a very large amount of Treasury paper in order to fund their operations.