Archive tags and hide from view

Tag management is limited to either deleting or replacing/merging.  In many cases, it is important to retain the historical use of a tag on a record, but it is necessary to remove it from the selection view on future records.

Would like to see functionality similar to that of multi-select tag custom fields, where variables can be hidden from selection, but still remain associated with the records where they were previously used.  At this point the only option to remove the tag from the selection view is to delete it from the records it was previously used on and then delete it from the tags list.