In principle its a good idea. The fact is, the deficit has to be paid off, because the only alternatives are hyperinflation and/or bankruptcy. Its as simple as that.
However, would the government repeal the tax as soon as the deficit was paid before revising the monetary system to go back on a new gold standard? I suspect not...
In principle its a good idea
In principle it is a plot straight from Hell. Look at the character and track records of those who propose it. Reprobates all.
However, would the government repeal the tax as soon as the deficit was paid before revising the monetary system to go back on a new gold standard?
I am sure you can point to the many times in history when tyrants voluntarily entered into sound fiscal policy.
Riddle me this, if confiscation of money from the Producers to the Administrators is such a great idea that it will pull everyone up and make everyone prosperous, why on earth would anyone want to return to a Free Market economy where money flows to its most efficient use?
Clearly an army of corrupt bastards making every macro market decision is far superior than the trillions of micro decisions made at the ground level.
I'm assuming that you are government school educated, explains your faith in the inherent honesty, selfless benevolence and omniscience of our Betters despite all of the empirical evidence to the contrary