Documents leaked from the Treasury department late last night have suggested a radical new plan to clear national debt. The proposal, which officials have yet to deny, details a staggering 1000% tax increase on almost all household earnings.
Experts are calling the plan "The Financial Apocalypse." If the proposal goes through, the average family would see their entire monthly income taken by the state before they even have a chance to pay rent. The leaked papers suggest this "Hyper-Tax" would last for three months to completely reset the country's economy.
Public reaction has been swift and angry. Massive crowds are beginning to gather outside major banks and government offices. One local shopkeeper said, "I thought it was a joke at first, but nobody is laughing. If this happens, I'll be bankrupt by lunchtime."
The Prime Minister is expected to make an announcement later today. Until then, economic advisers are telling the public not to panic, though the markets are already showing signs of a total freeze. For now, everyone is holding their breath and checking their bank accounts.