1% is a ton. 1% is crazy. Visa owns the world off just a 3% tax on everything else. Brokers make billions off of just 1% or even far less.
1% of all activity is only rational if you get more than 1% of all activity back out from those times and places where it was used.
1%, when it's of everything, is an absolutely stupendous collossal number that is absolutely crazy to try to treat as trivial.