No more taxes. All the debt sold by the Federal Feserve will be canceled. Then the institution will be abolished. The Treasury itself will print all Dollars. Each Dollar printed will have an expiration date five years from the printing of the note. When this note is deposited in the bank the bank will record the expiration date whereupon the money expires. No tax forms will be required. The department of the IRS will be a four-man hit crew.
All existing currency will expire in 2020. Until that time, it may be traded for the new money. Then money will no longer be fungible.
You can still write checks. When you do you are transferring the funds along with the expiration dates to the payee.
Most people will not need savings accounts, as the incentive will be to get rid of the money before it expires, increasing the velocity of money to c.
The note will state (there will be no pictures) in red ink on skin colored parchment:
This treasury note is loaned to the world for a period of five years, expiring on mm/dd/yyyy. It is legal tender. Refusal to accept this note is a capital offense. Counterfeiting this note is a capital offense. Please recycle. Non- returnable.