"Tiny Tax." He says it is a combination of a Tobin Tax and APT Tax. It would only charge the party depositing money into their account, rather than both parties to a transaction. In 2019, the Lighthouse Law Club, led by Mark Emery Boswell, began supporting and promoting the idea. Overview The APT Tax was originally proposed to replace the entire federal and state tax system - including income, corporate profits, excise and estate taxes - in favor of a tiny tax on all transactions. The tax would be automatically deducted from special taxpayer accounts, linked by software to all accounts at financial institutions capable of making final payments to the government seamlessly in real-time. The APT Tax non-profit organization advocated for an Automated Payment Transaction Tax writes that under the plan, "every bank, brokerage, or other financial account established by a person, corporation or other taxable organization will pay 0.35% on all funds moving in or out of that account. The tax would be automatically transferred to a federal government tax collection account in the same institution. This will be true for stock, bond, options, and futures traders and investors; foreign citizens, companies and governments exchanging their currency for US dollars; a couple buying a new car; and, a teenager buying movie tickets with a credit card. The movement of funds is taxed and collected immediately without recording who or what was the source of funds or the recipient. This automated system would totally eliminate the need for filing tax returns and information returns, freeing individuals and businesses of enormous costs of tax compliance and greatly reducing the government's costs of collection and enforcement." The rate of the tax is measured as the Electronic Single Side Rate (ESSR). The ESSR is the tax rate charged to each individual. If the ESSR were 1%, then both parties to a transaction would pay the 1% tax. If a person were transferring money from one account to another, each account would pay a rate of 1%. For this transaction, the government would receive a combined rate of 2%. Dr. Feige writes that the tax could be as low as 0.3% to remain revenue neutral using data from 2005. Instead of acquiring taxes solely based on income (whether corporate or individual), the APT Tax would broaden the tax base to include Stocks, Bonds, and Options Transfers, Money Saving Transactions, Goods and Services, and