> Planned economies have historically failed.

Very much false - the US war and post-war economy was very heavily planned, and was perhaps the most successful economy in history (precisely until it was gutted in the 70s/80s).

> best case scenario, create a proportional inflation

You give no reason to expect that this inflation will at best be proportional. It is perfectly possible (in fact likely) that the inflation will be less than proportional, because the price-setters (companies) are being taxed to give money to people on low incomes, who are economically speaking mostly consumers.

> Each of this "tax exemptions" or subsidies eats the profits of someone else. Very rarely it's the richest luxuries that are taken away.

Defeatist argument. It is obvious from history that taxation can be recouped from the rich, we just don't generally try to do that at the moment. We should start.