Time to scrap IRAs, 401k, 403b and all the rest

I mentioned this in a recent HD comment, but I think it deserves more discussion.

It’s time to scrap all tax-advantaged defined contribution retirement plans and replace them with one plan, one set of rules, uniform limits. No IRAs of any kind, no 403b,  no 401k, no nothing else.

Just a Universal Retirement Plan- Individual or employer sponsored. All contributions on an after-tax basis and tax and distribution rules following the Roth model. Everyone could contribute up to one (generous) limit. 

Higher income earners don’t need the pre-tax contributions and they mean little to middle and lower income earners who have an effective tax rate of 3.7%. 

Most important is an employer match which too would remain tax-free just as employer contributions toward health insurance are tax-free to workers. 

The plan would provide tax-free income in retirement along with the greater withdrawal flexibility Roth currently provides. All retirement distributions would count as income for IRMAA premiums – income is income after all. 

The only issue I can see is while there would be a federal revenue gain in the near term, there might be a greater revenue loss in the long term as tax-free earnings exceed contributions. On the other hand, more taxable income in the short term lowers deficits and government interest payments long term – or should.

So, does simplicity and uniformity make sense? Would more retirement saving be encouraged and retirement income enhanced?