“…In a blogpost on the campaign’s website, Ruffalo said that the “tragic irony” of the financial crisis was that “while ordinary Americans are still picking up the pieces today, those most responsible – Wall Street – have returned to their stranger-than-fiction reality”…
For all these big ambitions, the tax is surprisingly small: less than half of 1%, or about 50¢ on every $100 of trades. It would apply not to ordinary Americans (the rate is set so low precisely to avoid impacting ordinary people and businesses) but to Wall Street’s sprawling, churning predatory casino-style trading that helped drive the financial crisis. We’re talking high-frequency trades carried out by computer algorithms, billion-dollar bets on currency fluctuations, credit default swaps and other derivatives…”