Agreed. The theory is there, and even then sounds like it would work like you said if the government was "well-governed, principled, high-integrity, trustworthy". Theory rarely works according to the plan in practice, so as we see today, even if those qualities had been a priority of the government (which I don't think they really are - I think the government in USA acts more like a rich-man's proxy tricking you a lot) we need the plan that accounts for some rough spots or edge cases.