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The best way to set up a tax system is one that is nondistortionary, that doesn't excessively affect incentives, is minimally intrusive on people's daily lives and thus their freedom, provides a fair amount of certainty of collection, is broadly based and transparent.
To get there would require a combination of a number of relatively low-rate imposts on diverse things - part income, part consumption, part gains, part transations. It'll never be accepted.
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