Oh, boy. You're one of those people.
Listen,
@Freenight's points are basically correct, he just didn't deliver it in a kind and polite way. Don't sound so hostile, though, he's just offering his opinions on your suggestion, so that it can be improved.
As for the suggestion,
how much bonus damage, exactly?
Bonus damage is a pretty controversial topic in the game, and bonus damage to
all monsters sounds pretty overpowered. I suggest replacing the bonus damage to monsters for bonus attack damage, instead. (And, no, bonus damage and bonus attack damage are two different things.)
And as for the bonus drop rate,
how much?, yet again is the question.
As for obtaining, it sounds a bit too much obtainable in the early parts of the game, since it gives bonuses to drop rate and damage, it would be better off as a hardmode accessory.
I don't think you know what irony means.