[ARCADIA]

What about eliminating hundreds of billions of dollars in compliance cost "overhead"? Wouldn't that be a good start?

Absolutely!

So how would the new plan assure compliance? The number of collection nodes would grow, from a given number of employers/employees today, to the quantity and quality of all taxable transactions executed by each of these employers/employees over the collections period. Would you suggest that we eliminate hard currency and limit our population to more easily monitored electronic transactions? What about the immediate cost of migrating to the new system? Would it really as simple as turning off the lights at the IRS?

The current system is the financial pillar which supports our country. It is fine to talk about changing it; but, unless you want a disaster, you will need to first find a way to reduce the load and ensure that appropriate shoring is in place. There is alot more going on with the present system then the mere collection of revenues. those compliance requirements provide the basic metrics by which we gage our economy.

In our past, the income tax was far less significant as a source of funding then it is today. It would be far easier to return to those days, then to try to create the entire mesh anew while operating at full speed.

[phil_will1]

"There is alot more going on with the present system then the mere collection of revenues."
Indeed there is. You may consider this social engineering essential to the smooth functioning of our republic and our economy. I don't. However, even if you do, I am sure you will agree with Dr. Donald Ratajczak, noted economist, who says that it is much more efficient to provide these incentives through direct subsidies, rather than via the tax code.
".... those compliance requirements provide the basic metrics by which we gage our economy."
I have no idea what you are talking about.