Basically it's sorta like sales tax but for wall street. The percent varies per transaction size but doesn't get higher then .5%. It would apparently raise large amounts of revenue. $265 billion if trading volume were to decrease by 25%. $353.8 billion if no trading decrease.
I think it's a good idea. What are your thoughts?
All the math is here: http://www.cepr.net/documents/public...ue-2009-12.pdf