policies currently has two questions and rules has four. These don't seem sufficiently distinct to me. Can we either clarify the difference (via tag wikis, please) or merge them (and create a synonym)?
As per definition a rule is a procedure that must be followed, however a policy is more of a guidline. As a quick example
By viewing forum A you accept that you will not spam, if you do you will be banned. This is a rule not a policy
As a general policy being a forum based in the US, we will only provide official support to English posted questions this is a policy, it's not against the rules
And another example is Honesty is the best policy, you don't have to be honest.
If they were to be merged I would like to see it as rules-and-policies
I believe the distinction being made in this answer is too nuanced for this site; that's not how everybody actually uses those words and maintaining two tags with that distinction is not going to work out well. We should definitely not have two tags.
However, combining them into a single rules-and-policies tag would be acceptable; anybody who starts typing either "rules" or "policies" will get there (no synonyms needed).