https://en.m.wikipedia.org/wiki/Automated_Payment_Transaction_taxMy typical approach to tax reform seeks to broaden the base, incentivize savings and investment, avoid influencing large-scale behavior, make sure taxation piggy backs onto existing activity, lower the burden, and align taxes with services rendered.
This is generally a conservative approach to taxation. I've never considered this idea of a very low rate on literally all transactions in the economy. This would presumably exempt savings in order to shore up the more traditional banking industry. It seems like it would be favorable to savings and the smaller banks at the expense of the Goldman Sachses.
I've not thought through all of this yet, but I'm wondering what everyone thinks about replacing absolutely all taxes with a low rate on all economic activity.
