> So Ralph Nader is on the radio opining about his presidential race.
>
> I am afraid it does not inspire confidence to hear someone shooting for the
> Presidency to claim you have to be a multi billionaire to get anything done.
> What kind of campaign strategy is that? But Nader did accuse Congress of
> abdicating their responsibility, a comment I found refreshing if unhelpful.
>
> More interestingly, Nader advocates a transaction tax to make the
> speculators pay for their own bailout. As a taxpayer, that sounds like a
> really good idea and I know it has been mentioned before. At this point
> is that closing the barn door after the horse has left? Would a transaction
> tax now prevent the worst excesses of speculation coming out of this mess?
> Would it just ignite a legal feeding frenzy of lawyers and accountants
> trying to define their way out of any obligation?
There was such a tax for most of the history of the stock market, it was only repealed in '66. But it survived two world wars and the depression.