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Forum Post: If the New York stock exchange actually moves offshore how will the loss of tax revenue affect the NY and Federal governments?

Posted 12 years ago on Dec. 25, 2011, 1:57 p.m. EST by foreeverLeft (-264)
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It's widely known the NYSE and the Chicago exchanges are making plans to leave America should they be forced to. If the government piles on more taxes and regulations they have every intention of moving to more hospitable countries and are negotiating now.

What can we do about this loss of a tax base?



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[-] 0 points by Par (27) 12 years ago

I would say good riddens to them, they're parasites. But what evidence says they're leaving?

[-] 0 points by foreeverLeft (-264) 12 years ago

For some reason, they find the current climate in the US hostile. The NYSE has been in communication with the London exchange. I honestly don't know the plans of the Merc or the CBOT other than they are considering US states with a more friendly business climate, Texas keeps coming up.

A German firm has bought the NYSE so there is no legal way to make them stay and pay taxes here. Given the demands of the Democrats and groups like OWS and others it simply makes economic sense for them to move out of NY.

Here's the article about the Germans...


[-] 0 points by Par (27) 12 years ago

I hope they do leave. If nothing else it will bolster my argument that NYC is an obsolete and overpriced city.

[-] 0 points by foreeverLeft (-264) 12 years ago

Well, the loss of tax revenue would be cataclysmic for social services but I suppose ridding the country of such evil is more important. Another side effect will be the banks changing nationality as well. These things will cripple the economy but it will make our transition to an agrarian exchange society so much quicker.

It will be painful but if we all give up the silly excesses like internet, cable, private automobiles and take a serious look at communal living I think most of us can survive!