Financial Transaction Tax to Pay for Another Failed Stimulus?

Let's get this straight - the first "stimulus," created by Pelosi and Dems and signed by President Bush in 2008, consisted of $150 billion in "tax rebates," which did exactly nothing to stimulate the economy. The second "stimulus" was a $800 billion government spending bill that did exactly nothing to stimulate the economy.

Now Democrats and Obama want a third failed stimulus plan, to be paid for by a tax on all financial transactions, including stock, bond and mutual fund trades. The tax being proposed would be 0.1% to 0.25% on the value of each transaction. This equates to $10 to $25 for a $10K trade, which would effectively double, triple or quadruple (or more) the cost of transactions.

Are you kidding me?!? I know people love to hate Wall Street, but in a worsening credit environment (credit is still getting much tighter), this would do the exact opposite of promoting investment - it would stifle it.