transaction. on the other hand, remember the president has commented on the wall street money in 2008, and continues to have multiple fundraisers with some of the countries that fatcats. in backing this robin hood tax, along with the sl cio and the national nurses union, it might damage their efforts. the bill is sponsored by tom harkin and peter boccaccio. it would impose a tax of just 3 cents of every $100 of financial trade. it would cost the average investor less than a dollar a year while reducing reckless trading that increases market volatility. it is .03%, but it will still generate about $35 billion a year in income, income that could be used to rebuild the economy and infrastructure and other investments or money that could be used to help defray our
deficit. reporter: these as i m going to show you right now with bill my and ben kingsley make the case that you can get really big money from these targeted speculative wall street guys in a very small price for everybody else. but opponents say the financial transaction tax would not reduce the high frequency trading butts on those people offshore. they recognize that the text was there to raise money. this is really not a regulatory change in this. all this really is is an attempt to reach into someone s pocket and extract more tax money. union support will eventually get onboard with them. we know recently the president was quoted as saying, let s do it, but was talked out of it by one of his aides. however, this does raise more money than attacks on the 250 and above and as the election gets closer, supporters believe
to do, charliesome. yeah, i think that s exactly right, jon. their goal here was to very early portray, you know, portray mitt romney in the light that they want to portray him in, and they ve largely failed. there s been some containment of mitt romney s numbers, clearly, but the real problem for president obama is that his numbers are stuck in the 46, 47% range, which is very troubling. the other problem is that mitt romney s kind of surprised us all recently by outraising president obama who has been a fundraising juggernaut for the past four or, you know, five or six years really. you know, in his first campaign it was just astonishing, the busloads of money that he was able to raise. and so mitt romney s outraising him, and mitt romney really hasn t spent a lot of money at the level that the obama campaign has. and i think that s why, jon, you re now seeing a lot of very desperate attacks by the obama campaign and why the obama
might discourage people from giving. nobody wants to bet on losing horse. nobody wants to give an effort going nowhere. on the other hand if it looks like you re doing fine. sometime supporters get complacent. he doesn t need my money. he has plenty. you re trying to find ways to motivate your base and excite them on the other hand you don t want them to take for granted you have plenty of money. i think the president is doing what he can to use the circumstances to his advantage. let s not forget he has been raising millions and millions of dollars going back into 2011 when republicans including mitt romney were fighting out out in a presidential primary. president has dozens of field offices and boots on the ground in key battleground states. the romney campaign has to catch up and ramp up. the president in millions of dollars in attacked as up in key swing states. mitt romney will have to catch up there. this is really good sign for romney that he has come out of the gate raising lo
biggy bank, it s got to get out of these risky businesses over here if it s going to hold on to your money. basically telling them you can t be gambling with regular folk, main street money. if they want to do this business, fine. open separate companies and gamble with rich people s money. but stay out of main street, sue someday. i m not one of those rich people. glad you saved my nest egg there, jessica. tell us, what are we hearing about the bill that includes this idea, the notion of banks that are too big to fail? right. that s one of those terms we all hear. what does it really mean? in a shut shell the basic concept, let s see biggy national bank is actually owned by a mega company. the place where you bought your mortgage is inside mega company. the place you bought your life insurance is inside mega company. all your big assets are inside mega company. if mega company hits hard times, right now the government does not have the power to do