Oh, don't I wish! I have thought of this often. What a perfect way to show who needs whom.

+1 for the graphic.

It would likely cause instant totalitarianism.
They would shout, "Think of the children. Think of the elderly." Better yet, don't think at all.

The professional looters would riot.
Unfortunately, that would be half of the population.

Unfortunately, the first impulse of the looters, driven by their rage, would be to institute a "wealth tax" to seize assets when income is no longer available. After all, by what right do the wealthy just stop producing and selfishly keep their wealth while others starve? Homes, bank accounts, shares of stock all would be up for grabs in the "emergency" confiscation that would ensue.

It would be difficult for them to arrest everyone but I am sure they'd go after their detractors...

Hello DrEdwardHudgins,
I suspect the looters would put a lean on every bank account and an armed guard at every bank before the day was over. A run on the banks would be quashed by virtue of a maximum withdrawal edict. We would become Greece. The inevitable crash would only be postponed. It will happen eventually regardless because of the reasons you stated. Atlas is shrugging. The true mystery is how it has been avoided so far, considering our debt.
Respectfully,
O.A.

they couldn't put us all in jail, could they? . that's why
every fed agency is accumulating a police force!!! -- j
.

Ayn was correct when she pointed out that taxes must be voluntary. If they are not there is no process to avoid unrelenting increases in taxation, which by the way is higher than 40%. Take the amount of money in circulation and divide it into the total of the budget, then add sales taxes, state income taxes, property taxes and it will be close to 80%. The only 'vote' that really counts is the ability to not support the tyranny that is killing you. Taxation is extortion and always has been. The ability to threaten you with extinction if you do not surrender your property.

Occasionally on some of the more obscure CSPAN panels you will hear someone mention that US income tax voluntary compliance is right on the edge of what the IRS can handle... easy to tip into a real revenue problem for the US government. Not sure if the State governments with income taxes are in the same condition as they have other significant sources of revenue.

A good first step would be to end withholding of income and payroll taxes and have everyone have to file quarterly estimated taxes as the self employed do. Also end the sales tax and have everyone have to file a Use Tax. Time the government did it's own dirty work instead of coercing private businesses to do it for them.