Impose a micro-tax on Wall st

Rep. Pete DeFazio (D-Ore.) introduced the "Let Wall Street Pay For the Restoration of Main Street Act" in 2009, yet it fostered no mainstream discourse. At a time when Congress is threatening to cut vital services, this bill needs to be made known to the American people. With a possible revenue generation of $150 billion dollars, it is important that a micro-tax enter the national debate about where to increase revenue and reduce the deficit. The idea behind the bill is to impose a micro tax of 0.25 percent on futures, swaps, credit default swaps and options. In an attempt to shield average investors and pension funds from extra taxes, the tax would be refunded for the first $100,000 of transactions annually, as well as for tax-favored retirement accounts, education savings accounts and he