Agreed, except for the VAT. A new revenue stream, however theoretically beautiful, just does not seem like a good idea because there's just too much opportunity for abuse (by "abuse" I mean an excuse for the government to spend more money). I have read elsewhere that a factor, perhaps a significant one, for the banks not lending out more money is because of the Interest on Reserves. As I understand it, banks get to borrow money at a 0.25% rate or less and then they get a higher return on that money by just collecting the Interest on Reserves. Wouldn't repealing that policy help spur bank lending?