[reaganaut1]

A progressive consumption tax on top of a progressive income tax, just great. The "rich" would be forced to document not just how much they earned but how much they saved. It does not occur to Frank that the rich might say "go to hell" and stop working once their income reached the threshold of the consumption tax.

[mrsmel]

The marxists are never-ceasing in their creative thinking to find ways to steal people’s money in order to bribe parasites for votes. They just don’t stop.

[MNJohnnie]

But an effective remedy is at hand. A simple revision to current tax policy could spur an immediate burst of nongovernment spending that would help restore full employment without adding to the defict

Only problem is this whole notion is based on a fraudulent assumption. Government Stimulus spending does NOT create sustained employment and economic growth.

The Japaneses, faced with a similar economic contraction tried this Demand side theory all during the 1990s. It failed...utterly

Someone needs to tie every member of the US Junk Media down and read to them this book. They all push this fraudulent notion that Government Stimulus spending will create jobs. No it will not

Japan's Lost Decade: Origins, Consequences and Prospects for Recovery by Gary Saxonhouse and Robert Stern (Paperback - Mar. 12, 2004)

[Longbow1969]

That is all the left can think to do. One tax after another, endless tax increases on anything and everything - all in a desperate attempt to keep the government spending spree going.

Hopefully one day we get an actual conservative administration that spends each and every day finding programs to cut. I would just love to have a President who came out every day and announced what programs were slated for elimination, how much money that would save, how much tax payers could expect back, etc.

[docbnj]

Great idea, from the viewpoint of an Obama-Commie. You get this passed, then extend it downward each year as more “emergencies” arise. After a while, you won’t have to do anything, because inflation will automatically get more and more of the productive middle-class into the grasp of this new tax.

[reg45]

So, in other words, if I make over $1,000,000 per year and have expenses over $500,000 - including domestic staff - I would have to pay higher taxes. I guess it’s time to fire some of the domestic staff, thereby increasing the unemployment rate.

[SteamShovel]

a surtax on extremely high levels of consumption

You want to tax job sustaining economic activity and kill THOSE JOBS TOO?!?

How stupid are these people?

Get government out of the way! If they had, the crisis would be ending already!

[Pearls Before Swine]

Frank’s proposal is a good start. He could improve upon it by rescinding the tax for anyone who had a government appointment, because of their special status in helping society.

A big “/s” goes here.

[raisetheroof]

Something similar called a Luxury Tax was passed in the early 90s.

Promoted as applying only on the things that rich people consume, it, too, turned out to be a colossal failure.