Martha Bueno is asking for Plan B. OK, here is Plan B
"Abolish all taxation anyway. And instead of printing money, confiscate 100% of the Rents for revenue.
This new revenue stream will be bigger than taxation used to be - so go to the people in a regular referendum and ask them how they want to see it distributed - 1) universal high income, 2) pay off national debt, 3) build space ships and colonise the universe, 4) build an army of foot soldiers to root out the fraudsters once and for all 5) free beer, 6) something else.
Yes, landowners and mortgagors and will hate it. But the ever growing rent is unearned so confiscating all of it cannot harm production.
And there are plenty of well understood mitigation measures to deal with the apparent but not real landowner assets being underwater when the selling price immediately goes to zero + the cost of building and improvements, following adoption of the policy.
Before you make the mistake of howling "COMMUNISM", stop! That monstrous doctrine is where the state confiscates all the land. This is merely confiscating the rent, you keep the land in your possession. So please do not go there it will make you look silly. This policy will deliver fully free markets for the first time in history, now it is impossible for monopolies to form and soak up the available rent.
Sure, this is scary. Very scary. But you are asking for an answer to a great social problem. What else could it be but scary?
It is only scary because its never been tried before wholesale. Yet are we not the innovative, courageous all American people?
All questions are answered on this long ago anyway. And clarifications and objections are quickly dealt with. It just needs some wisdom finally and the will power."
Some people call me a foolish dreamer. It is true, I do not blame them. It is the most positive way to live in an even more foolish and sleepy world.