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
I don’t have faith in the honesty of them, which is why I qualified it at the end. But the fact is, the deficit needs to be paid off before things can start returning to normal. Unfortunately, this will mean having to pay taxes that won’t involve seeing anything tangible in return.
The only other alternatives are hyperinflation and/or default, which will be much worse than paying more tax. Like I say, in PRINCIPLE it is a good idea to have a temporary tax like this to pay to resolve the crisis, but the problem is, it won’t be temporary. They won’t have the discipline to rescind the tax afterwards, that is the problem. Taxes unfortunately have a nasty habit of staying in force for a long time after the crisis has passed. Just ask any British person who is still paying something called income tax even though Napoleon was defeated nearly two hundred years ago...