Proposed tax on Wall Street

Hey WSO,

Just saw Bernie is back at it again trying to eliminate over 1 trillion in student debt. Currently in undergrad I have taken out loans to pursue my finance degree with the hopes of paying them off once I start my career...

"Democratic presidential candidate Sen. Bernie Sanders introduced a plan Monday to eliminate $1.6 trillion in student debt currently held by 45 million Americans. And he's looking to Wall Street to pay for its cost.

Sanders, along with Reps. Pramila Jayapal, Ilhan Omar and Alexandria Ocasio-Cortez, are proposing a Wall Street tax — a tax of 0.5% on all trades, fees on bonds and derivatives. According to Sanders, the tax would raise $2.4 trillion over 10 years.

In addition to debt forgiveness, Sanders would make all public colleges and private historically black colleges and universities tuition-free."

• CBS

Wondering if any of you have any insight to what this would actually accomplish, and the effects it may have on the major and minor banks alike...

Is this a feasible potential policy? Or is there a better way to get to the root cause of the student debt crisis in North America?