Let us say, for example, that some ultra super rich guy has spent his whole life accumulating half of the gold of the world secretly. He has died and put in his will that he wants the money from his gold to go toward paying for the US government spending. We are talking trillions upon trillions. The only stipulation is that no taxes may be collected while spending his money.
The budget will be met for the next 30 years, there is always the option of falling back to taxing if the money runs out.
Would you be ok with nobody paying taxes for those 30 years? Even rich people and corporations.
The budget will be met for 30 years?
I'd propose something different then.
I would argue that we should lower taxes enourmously, while making sure that the money supply there lasts a LOT longer, using largely its interest.
But since we cannot collect taxes, I would argue something else: We should collect investment money, that cannot be used by the government, until the money runs out.
So, we cut all taxes. Then, we collect a small part of everyone's money and put it in a fund, for 30 years. And secretly hope that this fund will take over the moment this guy's money runs out.