DO YOU PIGOU?:

Krugman Got It Wrong: Republicans aren't off base about unemployment, health care or the estate tax. (Richard A. Epstein, 03.09.10, Forbes)

The best tax regime that I can think of--the one with the fewest distortions to economic behavior--is a general flat consumption tax. That tax has these advantages. It is relatively easy to administer. It minimizes the distortion of choices relative to what they would be in some nontax universe. And it does not tax savings in ways that unwisely encourage excessive consumption today. No matter what one thinks about any other issue, why block a legislative reform that makes sense in its own terms? Envy is, of course, no answer. Even if the Republicans are wrong on everything else, they are right on this. So go the entire distance.