The supporters contend that the Tobin Tax will generate a specific target tax revenue and the removal of "speculators, short interest and high velocity traders" will benefit long term investors.  First, I suspect that the number of trades will fall if the trading tax proposal became a reality forcing many out of business and changing the way the remainder conduct their trading business.  Further, there would be some relative decline in income due to this tax. Net, net, the tax revenue projection is misconceived and there will also be a reduction in income tax paid.  Lastly, the Tobin Tax would likely impair price discovery and a drop in volume would add, not diminish volatility which is what the tax supporters contend.

Unfortunately Wall St.'s greed and congress stupidity has opened up pandoras box.....Main St. feels like they mortgaged their future last year to "bail out" Wall St.....and less than a year later wall St. firms are showing record profits and record bonusues...while "Main St" is floundering...no hope in site..