Securities Transaction Tax

Bob Herbert has a column pimping a securities transaction tax.  I blogged the tax earlier, though, the revenue estimates I quoted were purely for revenues raised from stock transactions.  Herbert, citing Dean Baker, estimates that a tax on all manners of securities transactions (bonds, commodities, futures, derivates, etc.) would raise in excess of $100 billion.  One of the challenges for the foreseeable future will be to raise revenues and it is important to do so in an efficient manner as possible.