I t seems lacking to me that there isn't already a tax on financial transactions. We have taxed everything else. As Europe passes legislation imposing such taxes, the markets threaten that trading will move elsewhere and their markets will suffer. However, if Britain, the US, and other savy governments follow suit to help their own struggling economies, their would not be a significant migration to other markets. This way the only market left will be in some small middle eastern town, and they can't all go there. Anyway, I do think it is time to support our expenditures with a few more $$s from the rich getting richer.
Once the budget is balanced, then for every $ revenue raise above and beyond, a matching program should be re-funded, it's only fair (if only). We have cut cut cut, we need to build build build.
Austerity is not the way.