It wouldn't eliminate their ability to spend it, but it would limit their ability to manipulate voters with tax cuts. The beauty of this plan is the natural progressivity of it, the more you spend the more you get taxed. But, when all is said and done, everyone has the power to limit their taxes by limiting how much they spend.
Interesting "point."
The 2001 Bush Tax Cut legislation reduced taxes more in one year than the NRST would in a century.