Then, enter one Conservadem Ben Nelson:
In lieu of a “war tax” to pay for a troop increase in Afghanistan, Democratic Sen. Ben Nelson (NE) is proposing war bonds.
“We didn’t have a war tax in the second World War,” Nelson said, and instead the government sold Americans bonds. “People invested in their country, in that fashion [and] made a lot of sense back then. I don’t know why it might not make sense today, certainly in lieu of jumping to tax.”
There are a couple things wrong with this. One, we actually did have higher taxes during WW2. Second...well, I'll let Wonkette take it from here:
...this is superfluous, because we already have such bonds: they are called United States Treasury Bonds, which we use to finance any sort of deficit spending! For how many years, as a child, did Ben Nelson drink paint-thinner on a daily basis?...Issuing, say, $30 billion in new “war bonds” means taking on $30 billion in new debt, plus interest. If Ben Nelson wants to be Fiscally Serious, then he should either (a) add a surtax to accumulate $30 billion in new revenue or (b) offset $30 billion in the Defense Department budget, at the expense of other things. That’s probably like four F-35s, seriously. Seriously.
Ben Nelson poops through his mouth.
Over at TNR, Jon Chait advances a similar thesis regarding Senator Joe "Eeyore" Lieberman's recent asshattery on health care.