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Of the value of any trade in shares or bonds, and 0.01% of any financial derivative contract. now the 11 european countries feel this tax will discourage risky trading and add billions of dollars to the struggling economies. senator tom harkin of iowa and congressman peter defazio of oregon have been trying to get a similar transaction tax passed in america for years. the proposal would put 3 cent tax on every $100 of stock bonds tax derivatives, saying it would generate $352 billion in ten years. not chump change. think about it for a second. here is 520s. there is $100. visualize this. there...

2.9 billion trades a day just on the new york stock exchange. there were 40 million a day roughly 30 years ago. >> what would we do with $352 billion over ten years? >> well, let's see, if you're worried about the deficit, you know, the republicans keep worrying about that. it would help bring it down. it would help us finance, as you pointed out, the affordable care act. there are a lot of things we could do with it that would benefit society in the ways that the high-speed trades do not. >> a study by the cftc shows the average aggressive high-speed trader made a daily profit of 45,267 in a ...

One hundred, three cents, there you have it. what could we do with $352 billion? do you think maybe we could pay for at least one of the wars? or do you think maybe we could insure maybe another 30 million people? do the path. that would pay for about half of obama care. that would really make the righties happy. think about it. why is it number one, wall street doesn't get prosecuted. number two, they get off scot-free on these transactions. this is an easy thing, and nobody is going to feel it. everything is going to be fine. joining me tonight, david cay johnston, pulitzer prize winning jou...

The fast lane. >> almost all the trading done today is done with computers that spot prices, changes in the market and execute trades. 2.9 billion trades a day just on the new york stock exchange. there were 40 million a day roughly 30 years ago. >> what would we do with $352 billion over ten years? >> well, let's see, if you're worried about the deficit, you know, the republicans keep worrying about that. it would help bring it down. it would help us finance, as you pointed out, the affordable care act. there are a lot of things we could do with it that would benefit society in the ways that ...

I better get my piggy bank out here. just like that. that's it. that's it. one hundred, three cents, there you have it. what could we do with $352 billion? do you think maybe we could pay for at least one of the wars? or do you think maybe we could insure maybe another 30 million people? do the path. that would pay for about half of obama care. that would really make the righties happy. think about it. why is it number one, wall street doesn't get prosecuted. number two, they get off scot-free on these transactions. this is an easy thing, and nobody is going to feel it. everything is going to ...