"Murphy's Law": New York May Follow New Jersey With Trading Tax Of Its Own

Bugsy said:
Ya no income tax in Texas either. It's why Joe Rogan moved here. Actually we've had quite a bit of big businesses fleeing the high taxes and regulations of California and New York to come here. Real estate rates have been driven sky high by the employees since they were able to sell their homes at several times the cost of what they would cost in Texas and then bid up the prices with cash offers.
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You have to hope the influx doesn't ultimately import the same destructive ideology they are fleeing.
 
I priced houses in Nashville and they were like Chicago North Suburb price levels. And that City is red hot.

Bugsy said:
Ya no income tax in Texas either. It's why Joe Rogan moved here. Actually we've had quite a bit of big businesses fleeing the high taxes and regulations of California and New York to come here. Real estate rates have been driven sky high by the employees since they were able to sell their homes at several times the cost of what they would cost in Texas and then bid up the prices with cash offers.
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The big question is if these people that flee Democrat states actually understand why the states they leave are in a negative spiral, or if they just claim it is «bad luck», keep voting Democrat and in the end make the former Republican states also into Democrat ones.

At least here in Europe, we see that people vote for things they really do not want, and then complain when things end up as they voted for. People seem to have no understanding of the consequences of theor avtions when it comes to politics
 
Bugsy said:
https://www.zerohedge.com/markets/murphys-law-new-york-may-follow-new-jersey-trading-tax-its-own
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I find it very hard to believe that NJ will go through with the tax. It's pretty clear that all the exchanges, etc will pull their servers immediately so what would be the point of NJ following thought on this?

The analyst cited in the article said he sees a 65% chance of NJ passing this tax as part of their budget process - seems way too high to me.

As far as New York putting the stock transfer tax back on the books I don't see that one happening either. It's seem Cuomo is pretty against it (as well as raising taxes on the financial industry in general). It would be financial suicide for NY to do this.

I would be surprised if we even see a ftt at the federal level. If Biden were to win and if the dems take back the majority in the Senate that would make Chuck Schumer the Senate Majority Leader. I know he was previously against the ftt back during the last financial crisis and I would think he probably still is. I'm sure there are a handful of other centrist senate dems who would be against this tax as well.

When it comes down to it this a bad tax and that won't raise much revenue at all and will do much harm to the entire financial industry and other sectors of the economy.

https://thereformedbroker.com/2009/09/15/senator-chuck-schumer-opposes-the-trader-tax/
 
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