New York Thinking About A Stock Transfer Tax, NYSE Might Move

[bu2]

Might well go to Atlanta. Its where Kelly Loeffler and her husband live and the company owning the exchange is located.

Atlanta has the busiest airport in the country.

But then Florida and Texas have no income tax.

[Brave New World]

Originally Posted by anononcty

I sure did. Apologies. Thanks for posting a good link

I don't think the people that want to do that don't understand not only high frequency trading but they're are plenty of smaller investors out there that could be affected. And it's a tax, an additional tax at that.

I think the easiest thing to do would be to takeover and merge with another exchange outside of NYC, that way lots of transactions could be done elsewhere.

A takeover/merger could be a smaller domestic exchange or an international exchange outside of the US, which would give them eve greater flexibility and allow them to escape some US laws and regulations.

However most share transactions are now carried out by electronic trading in offices rather than on trading floors, and the emergence of Fintech is going to change matters further, so a stock transaction tax may become impossible to regulate, and would put NY state at a big disadvantage in terms of both finance and tech.

[bluesjuke]

Originally Posted by Chocolatecake1977

The Democrats have never come across a tax they did not like. Maybe they should try cutting spending for a change.

The Left when in power always kills the incentive to invest.

[remco67]

Originally Posted by AtkinsonDan

The finance world is digital now, no need for filthy urban hellholes anymore.

Yep and ironically due to the covid lockdown of NYC people have finally realizing it.

[Quick Enough]

Originally Posted by anononcty

New York is thinking about imposing a stock transfer tax so the NYSE might consider moving out of state to avoid the tax.

https://nypost.com/2021/02/13/lone-s...-attacks-nypd/

I have been saying for a while, with today's technology there is little reason to stay in big cities anymore.

More and more have been working AWAY from an office via their computers.

The virus has opened MANY eyes to tel-commuting.

LOTS of people do trading from the office and home.

[Quick Enough]

Originally Posted by WK91

They’ll probably move to Florida or Texas just like everyone else is doing. If the Democratic Party is as superior as they say it is, why are so many people and companies either leaving or threatening to leave Democratic controlled states?

After the last census, NY lost 2 SEATS in the House. SC gained 1 and NC almost gained 1.

People Are Leaving NY In Record Numbers, Once Again ...

wpdh.com › people-are-leaving-new-york-in-record-nu...

Dec 23, 2020 — According to the estimates from the United States Census Bureau, 126,355 residents left New York between July 2019 and July 2020