2WL has already given his thoughts, so here are mine.
1) Eliminate all federal taxes, including, but not limited to, those on income and corporations. Replace with a tariff system on foreign imports.
Your argument is that pre-Wilson, the United States funded itself completely by tariffs and can do so again if we pare down the government's size. My counter is that tariffs will not work in a modern international economic system. Tariffs are a major, major reason why the Great Depression lasted as long as it did. As each country's revenues fell, they raised tariffs, which lowered imports (good for domestic jobs) but resulted in less exports from other countries, which in turn caused their recessions to deepen.
Today, if the US were to raise tariffs, not only are you going to make the cost of living increase for almost every American, but you're going to slow down the US economy big time.
2) Eliminate all federal subsidies, including, but not limited to, those to corporations, as well as, Social Security, Medicare, Medicaid, Welfare, and Food stamps.
I agree there is waste, but how do you propose the current poor and elderly pay for their food and medical expenses? Food kitchens right now can barely cope with the demand. How are the current elderly going to get an income? While I agree there's a better way to do this than the current system, it is statistically proven that (even before) social security came out people did not save enough money for retirement. It's just not human nature.
3) Eliminate the bureaucracies, including, but not limited to, the NSA, and the TSA.
Ok. What are you replacing them with? The government has an obligation (Constitutionally) to provide for the common defense. Are you including the military in your bureaucracy? What about the EPA? The SEC? The FBI?
4) Control inflation by putting a moratorium on printing money. This will cause the value of the Dollar to skyrocket, making everyone wealthier immediately.
If everyone is wealthier, no one is wealthier. Also, we don't have a problem with inflation, so I have no idea what you're talking about.
5) Cut $2 Trillion in government spending. This can be achieved through the things mentioned above, and by eliminating things like the National Parks and other ridiculous public works projects. End all pork barrel spending.
I agree in principle to end pork barrel spending, but I think you go a bit too far. The National Interstate Highway system sparked one of the biggest economic booms in the country's history. And National Parks are nice. Don't get rid of them.