Can you say Norway?
How about Wealth Tax??
"Times are tough. Someone has to pay. Why not start with those who can most afford it?...
"In Norway, for example, you pay one percent of your net worth in addition to income tax.
"What if we imposed a Norwegian-style wealth tax on the top one percent of U.S. households?
"Were not talking upper middle class here: the poorest among them is worth a mere $8.3 million.
"This top one percent owns 35 percent of all wealth in the United States.
'Such a wealth tax would raise $191.1 billion each year (one percent of $19.1 trillion), a significant attack on the deficit,' Leon Friedman writes in The Nation. 'If we extended the tax to the top 5 percent, we could raise $338.5 billion a year (one percent of 62 percent of $54.6 trillion).'
Tell the rich to pay up or pack up.
This proposal, like many others, could possibly merit a closer look if the Empire had responsible Leadership within the District of Corruption.
The current crop of Polytickers would simply find new ways to "buy votes" with the infusion of the Billions and the "can would continue to be kicked down the road."
A better solution is to force the scum that passes for our leaders, thanks to the illiterate, semi-literate and functionally illiterate who waddle to the Polls, to CUT 800 Billion from this year's Budget, 800 Billion from the FY2012 Budget and 800 Billion from the FY2013 Budget.
These are the cuts required to get close to a Balanced Budget.