Thom's Blog The AFL-CIO, and some of the Democrats, would like to assess a small tax - about a tenth of a percent - on every stock transaction. It's a good start but not enough. If we were to instate a .25 percent STET (tax) on every stock, swap, derivative, or other trade today, it would produce -- in its first year -- around $150 billion in revenue. Wall Street would be generating the money to fund its own bailout. After Hoover's 1931 bailout of the banks failed, FDR did a cold reboot of the entire system, putting into place strong rules to prevent speculative abuse. And he doubled the STET tax, both producing revenue that more than funded the Securities and Exchange Commission and further prevented a repeat of the speculative bubble of the 1920s that led directly to the Republican Great Depression. So let's go back to what works. In strange news... Protests from conservative "teabaggers" turned out to heckle Congresswoman Susan Davis (D-San Diego) during a town hall meeting. There were signs with racist overtones but they must have been surprised when they were countered by a newly-formed group called "Billionaires for Wealthcare." Dressed in formal attire, members pulled up in a limousine to greet other protesters, thanking them for "standing with billionaires" to oppose real healthcare reform. Don't you just love political theater?