NYSE chief warns it may leave New York if stock transfer tax is imposed. Another “tax us more Democrat” who quickly changes her tune when actual taxes are proposed that impact her or her business.

Sharing is Caring!

The New York Stock Exchange may leave New York State if Albany imposes a transfer tax on stock sales, the president of the Intercontinental Exchange Inc.-owned exchange operator said on Tuesday in an op-ed in the Wall Street Journal.

NYSE President Stacey Cunningham said she and 25 other representatives of New York’s securities industry sent a letter last Wednesday to state legislative leaders warning against the unintended consequences of imposing such a tax, which would ultimately be borne by investors.

“The New York Stock Exchange belongs in New York. If Albany lawmakers get their way, however, the center of the global financial industry may need to find a new home,” she said.

An NYSE representative declined to comment further.

New York State is facing steep budgetary shortfalls due to the COVID-19 pandemic, prompting some state lawmakers to introduce a bill here that would tax certain financial transactions.

www.foxbusiness.com/markets/nyse-chief-warns-it-may-exit-new-york-if-stock-transfer-tax-is-imposed

All virtual signaling, no substance. This is why an entirely new system is needed like a flat tax, else they either bully the system or just move HQ away from the taxes (different state or overseas)

 

h/t kanye5150

2,023 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.