Even Illinois is trying to get on FTT

Discussion in 'Taxes and Accounting' started by DarthSidious, May 26, 2016.

  1. From Bloomberg

    When will this madness end? Never. Because there will always be delusional people

     
  2. clacy

    clacy

    CME can easily relocate if that happens and suck billions of $$ out of Chicago.

    It's not like the pits matter any more, so it's just a matter of setting up servers in an office in a less taxed/regulated state.
     
    Chubbly and Tom B like this.
  3. What Duffy said
     
  4. FSU

    FSU

    Hmm, lets see. There are how many options exchanges, 13? I think I will send my orders to the CBOE and pay a surcharge of $2 per contract. If the CBOE stayed in Illinois they would have a total of ...... zero business. Or they can move and take all the jobs with them and pay no taxes at all. Brilliant idea!
     
  5. Sig

    Sig

    Snowball's chance it passes but it might actually be best if it did. As pointed out, CME/CBOE would simply move out of the state and the whole thing would be an utter failure. Any failure is ammo against a similar move anywhere else.
    I did get one nugget out of the article that I'm curious to hear opinions on. According to the article "Hillary Clinton’s proposal isn’t a levy on all trades, but penalizes traders who repeatedly submit and then retract their orders." I don't know her platform enough to know if that's actually what she's advocating for (or if she could or would pass it if it was), but curious to know everyone's thoughts on this, staying away from the slippery slope arguments and focusing on that idea itself?
     
    cjbuckley4 likes this.