News articles about the Financial Transaction Tax

https://www.wglt.org/post/republica...ker-preserve-tax-credits-budget-plan#stream/0

An Illinois website. They say:

"With state legislatures in both New Jersey and New York entertaining the passage of a financial transaction tax, there have been talks both data centers and the stock exchange itself may want to find a new home [perhaps Illinois].

Although bidding for data centers to come to Illinois could signify a future push to bring the stock exchange to Illinois, some Illinois lawmakers have also advocated for the passage of a financial transaction tax"
 
We wouldn't even have this conversation or concern if Republicans were still in control... ftt is an existential threat to us active traders. Biden Kamala Pelosi are going to fuck everything up.... Democrats = high taxes and fcked markets. Period.
 
KCalhoun said:
We wouldn't even have this conversation or concern if Republicans were still in control... ftt is an existential threat to us active traders. Biden Kamala Pelosi are going to fuck everything up.... Democrats = high taxes and fcked markets. Period.
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Republicans aren't in control. Elections matter. Republicans letting batshit crazy infect the party led to Republicans losing and putting you at risk of an ftt. You can rail about that or you can put your efforts into cutting out the cancer of Q-Anon and Trump from your party so that they can be viable again. Until then they simply aren't going to be, and complaining about something that impact .00001% of the population isn't going to change in a democracy.
 
I am curious what would happen if FTT was actually passed. What kind of loopholes will be available? Can all trading be moved outside of the US? Lots of smart people in this industry, so I expect they will come up with something to allow trading to continue.
 
cruisecontrol said:
I am curious what would happen if FTT was actually passed...
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According to some, all trading would cease, because there would be no way to make money in the markets. This means all stocks will go to zero. All commodities will go to zero. Everything will go to zero, because nothing will be traded.

We're on the precipice of total financial collapse of the stock market.

Game over, man.

 
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