The financial industry sucks up more and more of the GDP every year. The lax regulations, insider trading, and schemes that insiders and the financial industry have devised have devastated the trust in our economy.
Program trading, day trading and churning accounts by unethical traders and brokers have cost us dearly.
The financial industry needs to pay for the costs it, and it's employees, have imposed on us.
A small transaction fee will discourage, and reduce speculative trading and trading for small profits in a gamble to game the market. And, it will act as a fund to tap when the next financial crisis hits us as wall street and it's mediocre millionaires work tirelessly to confiscate as much of our nations wealth as possible.