Epictetus comments on Is Pragmatarianism (Tax Choice) Less Wrong? - Less Wrong
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Comments (68)
Some issues:
Makes planning extremely difficult. It's hard for leaders to make consistent policy when they don't know how much money will go to which project.
Subject to wild fluctuations. An event like 9/11 could strongly skew spending and leave other programs underfunded. In practice that means employees get laid off, infrastructure doesn't get maintained, etc. Damage of this sort is more expensive to repair than it was to maintain.
Requires a lot out of the voters. I doubt very many people are interested in going over the federal budget and deciding how much money they would want to pay for each item.
It's very easy to take a little bit of money out of your national debt payment contribution and apply it to a pet cause. This relies on other people picking up the slack. It wouldn't be long before S&P gave your bonds junk status.
Bureaucratic nightmare. How are people to communicate their preferences? Write-in budget outlines? Voting booths? It's a lot of paperwork and someone's going to have to process it. Electronic systems have the usual vulnerabilities.