I don't think that this is a particularly novel idea, but the more I think about it, the more the recent bailout seems magnitudes worse than anything we've seen before.

We're likely going to see unemployment at levels that will rival those of the great depression. This is a tragedy in itself, but what might be worse, is that as a result of decades of tax cuts for corporations and the rich, working class and middle class income tax plays a disproportionate role in funding government services relative to other forms of taxes. In other words, in other countries, taxes on the wealthy and on corporations constitute a much higher percentage of total tax revenue, but here, decades of tax cuts have meant that the tax burden falls overwhelmingly on average people. That is, average Americans shoulder the burden of funding the government. Consequently, the massive loss in jobs means a huge decrease in tax revenues, because the super-rich and corporations don’t really pay taxes..

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