One recession is over. We are on the verge of a second, possibly deeper, recession. The American government needs revenue to stimulate economic growth, maintain our infrastructure, and invest in research, innovation and education for our future. I am in favor of imposing a tiny tax on financial transactions to raise revenue to support all Americans rich or poor.
A tax of 0.02-0.05% on each financial transaction would raise significant revenue for the government. It would only minimally affect individuals and retirees who trade infrequently. However, it would raise significant revenue from large financial institutions that trade frequently and add to market volatility.