Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Vic Vinegar

(80 posts)
3. They've threatened to do so before
Fri Aug 23, 2013, 04:01 PM
Aug 2013

This is the normal excuse, it is time for everyone to cut through the layers of bullshit. Wall Street has so much money invested in NYC they will never leave, skyscrapers, the NYSE, etc. They will not move away from the NYSE that is totaly lunancy.

Next, 0.5% tax is not that bad and if anyone believes that allowing Wall Street to extort the city over that tax rate (which also includes a large exemption for people who deal with buying under a couple million dollars worth of stocks) then they are crazy.

Also, the typical Wall Street banker that isn't incredibly corrupted by standard practice realizes that a tax would slow down high frequency trading which is very costly to keep up with.

Last but not least, there is already a tax and Wall Street never moved. However, despite no pressure from threats, the tax started to be refunded a couple decades ago.

Since such a tax would only be in effect in NYC, why wouldn't most of the companies just move to NJ PoliticAverse Aug 2013 #1
They've threatened to do so before Vic Vinegar Aug 2013 #3
As NYC real estate ha increased in price many financial firms have already moved to cheaper areas... PoliticAverse Aug 2013 #5
That is true Vic Vinegar Aug 2013 #6
The tax will bring in trillions of dollars? former9thward Aug 2013 #12
well Vic Vinegar Aug 2013 #14
The High Frequency Traders (computers) need to be close to the stock market servers NutmegYankee Aug 2013 #10
Kick. What a great experiment that would be! Squinch Aug 2013 #2
hell yeah Vic Vinegar Aug 2013 #4
Can I observe that supporting him would be a violation of the TOS... brooklynite Aug 2013 #7
well technically Vic Vinegar Aug 2013 #8
But the focus of the OP is the TWS Party getting ballot status brooklynite Aug 2013 #9
boohoo for formalism Vic Vinegar Aug 2013 #15
So the Working Families Party isn't good enough for you? brooklynite Aug 2013 #16
bill thompson Vic Vinegar Aug 2013 #17
This is irrelevant to the point of the OP brooklynite Aug 2013 #18
and I ask who is really splitting the vote Vic Vinegar Aug 2013 #19
I trust you'll you'll be content with your principled vote after the Primary... brooklynite Aug 2013 #20
"No Democrat is a real Deocrat" brooklynite Aug 2013 #21
easdfasdf Vic Vinegar Aug 2013 #22
He can't run on the Democratic Party line...because he won't win the Democratic Party line brooklynite Aug 2013 #23
Meh, DiBlasio has my vote and is the real deal nt geek tragedy Aug 2013 #11
meh Vic Vinegar Aug 2013 #13
Latest Discussions»Retired Forums»2016 Postmortem»Tax Wall Street Party mor...»Reply #3