As a purely theoretical concept I don't think it's a big deal. It wouldn't have a large effect on me personally. That said, society might hurt a bit from the

As a purely theoretical concept I don't think it's a big deal. It wouldn't have a large effect on me personally. That said, society might hurt a bit from the tax shelter vs productive allocation of capital problem another commenter above mentioned. As a practical matter I have zero faith that the usual scumbags would not corrupt the process leaving everybody with higher taxes than either system and then gaslight everybody into thinking they're paying less. Look at how healthcare turned out.