Bill Gates backs financial transaction tax to aid poor

http://www.reuters.com/article/2011/09/23/us-g20-development-idUSTRE78M64Q20110923

The Gates report supports the thorny issue of a financial transaction tax as a way of raising "substantial resources" for developing countries. It suggests even a small tax of 10 basis points on equities and 2 basis points on bonds would raise about $48 billion among G20 member states, or $9 billion if only adopted by larger European countries.