EXCEPT THAT LIBERTARIANISM IS THE LOVE OF ONLY ONESELF:

A Tax Even Libertarians Can Love.: It's time we replaced the income tax with a tax that favors thrift. (Robert H. Frank, 04.16.09, Forbes Magazine)

[T]he income tax...discourages domestic savings, low levels of which helped precipitate the current economic downturn. That's harm.

This harm could be avoided by replacing the income tax with a progressive tax on spending. Taxpayers would report their income to the Internal Revenue Service as before, and also their savings, much as we now document contributions to 401(k) accounts. A family's income minus its savings is its consumption, and that amount minus a large standard deduction--say, $30,000 a year for a family of four--would be its taxable consumption.

Rates would start low, perhaps 20%, then rise gradually with total consumption. A family that earned $60,000 and saved $10,000 would have consumption of $50,000. After subtracting the standard deduction, its taxable consumption would be $20,000, for a tax bill of $4,000, about the same as under the current income tax.

With savings tax-exempt, top marginal tax rates on consumption would have to be significantly higher than current top rates on income. But unlike high marginal tax rates on income, which discourage thrift, high rates on consumption would encourage it.