https://www.japantimes.co.jp/news/2018/10/15/business/economy-business/abe-says-hes-going-ahead-japans-consumption-tax-hike-october-2019/
This is a hint of what our structure could look like if, no WHEN, the IRS is exterminated. Declining population who are able to work is a major factor in Japan so it's not like for like.
10% consumption or spending tax.
Japan uses very little credit. Cash everywhere. Not a cavalier attitude about a continuous flow of un-backed currency masquerading as capital.
If you want the reset, and we all need it, there will need to be a way to to discourage people from repeating this.
We still have a GDP that is largely centered on consumption-roughly 70%. Until we bring back and build-up our infrastructure that will need to support us for a few years.