(Allow me to reply to this age-old argument with the age-old counter argument...)
But you also have to decide at what point to hard wrap each line based on a max line length, and you can only do that based on some choice of tab size. Anyone with a different tab size preference would see the right column wandering depending on indentation level. This invalidates the only advantage of tabs (assuming file size is no longer a concern).
A common retort is that each reader's auto format (or soft wrapping) can sort out the wrapping. But if each coder is going to reformat the code anyway then they get the benefit of choosing their own indentation level regardless of tabs vs spaces.