Although I like the suggestion in general, but it seems @OP opened this topic because he received a negative feedback from high ranked user. 
I am clear that it is not that it seems that way, it is that there is a clear cause-effect relationship between one thing and another.
Well, this explains a lot about why OP is dissatisfied with the current merit system and why he came up with this idea. Usually, people who are against the system are also the ones who are trying to abuse it. I'm sure he would put his alt account farms to good use if we actually had de-merit or demote buttons.