You would have to build up a lot more speed if all you are going to do is decelerate once you "take-off". Also noteworthy, once you get to the escape velocity you would require an additional force just to keep you circular.
You can still have a rocket on your vehicle to accelerate further after take-off, but you certainly need to accelerate less if you already at a certain velocity than if you are stationary. Since the “certain velocity” is free by assumption (i.e. supplied by ground-based electricty generators or something similar), I don’t see how you could be off worse. But I still didn’t do the maths fully.
Air friction, perhaps? There is more air in a tangent line.
Staitght up is also wrong if you want a circular orbit.