Do you realize how many social ills would disappear and America would prosper if this would happen? I would advocate it only for felonies against persons, not felonies against property.
That is an idea that sounds really terrific on paper...but doesn't work as well in real life. There are way too many unintended consequences tied up in that. Proof positive once again that there really are no simple answers.
I doubt there is any relationship between extreme punishment and prosperity. It's a pretty totalitarian solution and there are all kinds of felonies against persons and mitigating circumstances.