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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 is $100. every time there is...

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 the high speed trades do not. >> a study by the cftc shows the average aggr...

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 math. 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, puli...

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 is $100. every time there is 100, there is three cents. i ...

Approach. premium support which used to be wildly supported and made it part of a conservative reform package. and it unnerved the president. >> greta: in your recent op-ed piece you said the republicans won the debate over the 2011 fiscal budget that went down friday night. i thought the republicans got rolled. they wanted 100 billion, it within down to 38. then i read the cbo report and i find out it is only 351 million dollars in cut. >> no it is not. first you need to distinguish between budget authority permission to spend and outlays. before you can spend a dime you got to get budget aut...