From the OP:
. . . one way to move money from the financial sector into the rest of the economy is to put a very small fee or tax (I call it insurance) on every single financial transaction. So if people want to zing money all over the world in a hurry like every nanosecond, they’ve got to pay a little bit into the fund. They want to do all these credit default swaps, or if we regulate them they’ll come up with another way to do these kinds of transactions and bets of one kind or another or currency bets or whatever they want to do – every time you do, 0.3 of one percent of the value of the transaction goes into, you know, the public sector. It pays us back for all the money we put in now and it protects us the next time around, and it helps move money from the financial sector into the real economy.Peter DeFazio (D-OR) on Feb. 13 introduced HR 1068 to place a 0.25% tax on certain securities transactions, to recoup TARP costs:
http://www.opencongress.org/bill/111-h1068/showIt works for me! But the bill is going nowhere for now.
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