NYSE Prepares To Move Operations Out Of New Jersey If Trading Tax Passes

[Banjo]

https://www.zerohedge.com/markets/n...the+survival+rate+for+everyone+drops+to+zero)

 

[Nobert]

Is there anything alternative in the world, like Cali ideas on passing the laws, where taxes would follow both individuals and business up to 10 years, if one/they leaves the state to avoid high taxes ?

If it comes to reality, then - more states would follow. (?)

 

[ET180]

Taxes have consequences. No one should be surprised by this.

 

[qlai]

I think both parties are bluffing. NYSE moving out while the rest stay would not be smart.

 

[2rosy]

I think both parties are bluffing. NYSE moving out while the rest stay would not be smart.

who would stay? just unplug and plugin elsewhere

 

[listedguru]

So originally they were boasting about this tax raising $10B per year now we're down to $500 million per year for only (2) years. Hmmm. Interesting

 

[Sig]

Is there anything alternative in the world, like Cali ideas on passing the laws, where taxes would follow both individuals and business up to 10 years, if one/they leaves the state to avoid high taxes ?

If it comes to reality, then - more states would follow. (?)

First off the CA proposal is for individuals and only covers amounts over $30M, so at most a couple people here would remotely need to worry about it in their lifetime. Secondly it's almost certainly unconstitutional, so in the highly unlikely case it passes it will simply be struck down. Unconstitutional laws persist only until someone well funded and motivated challenge them. Given that this law would target those most motivated and capable challenging it, it doesn't stand a chance. Same would apply if any state did it.