Supporters of the tax include the expected -- the AFL-CIO, Democratic benefactor George Soros, economist Dean Baker, one of the few who saw the housing bubble and predicted its bursting, and consumer advocate Ralph Nader. The unexpected include billionaires Bill Gates and Peter G. Peterson; former Goldman Sachs chairman John Whitehead, and former chairman of the Federal Reserve Paul Volcker. Conservative political leaders behind it include German chancellor Angela Merkel and French president Nicolas Sarkozy. Experts promoting it include Nobel Laureates Joseph Stiglitz and Paul Krugman. Moral leaders advocating for it include Archbishop of Canterbury Rowan Williams and the Pontifical Council for Justice and Peace....
The European Commission recommended in September that the 27 European Union member countries adopt a .1 percent tax on financial transactions beginning in 2014. It estimated that the tax would raise $78 billion a year. Europe hesitates to institute the tax without a similar levy in the United States.Read the whole post at AlterNet
Earlier this month, two U.S. lawmakers who have long supported the levy introduced legislation to impose a smaller tax -- .03 percent or 3 cents on $100 in transactions. The tax proposed by U.S. Rep. Peter DeFazio, D-Ore, and Sen. Tom Harkin, D-Iowa, would raise about $350 billion over a decade.
Crash Tax: Wall Street Should Pay Reparations to the 99%
It's out of paradigm, since national governments with currency sovereignty don't fund themselves through taxation. However, taxation does act as a negative reinforcement of behavior, and it is arguable that a FTF would result in more orderly markets by reducing the "froth" due to "animal spirits."