Porky Torpedoes Bad Idea
Hey look - someone can read the writing on the wall:
Governor J.B. Pritzker said he would veto any legislation to impose a financial transaction tax that could harm Chicago’s storied exchanges and cause them to leave the state.
“Let me be clear, there is no financial transactions tax on the table, period,” the Democratic governor said in an interview with Bloomberg News. “There will not be support. I would veto it.”
Pritzker’s comments follow months of speculation over how Chicago Mayor Brandon Johnson plans to raise revenue to tackle the city’s embattled finances. They also represent the billionaire governor’s strongest words of opposition to the levy, after he expressed dissent to the proposal following Johnson’s election.
You'll recall last week we cited a couple of articles about the major financial exchanges in town. They have already experimented with moving their electronic footprint to other states and their CEOs made statements to the effect that should the communist progressives make an attempt on this highway robbery, they're gone.
If you've been on LaSalle Street any time in the past two years, it looks like they've already made a sizeable dent in their presence anyway.
Labels: state politics
posted by SCC at 12:01 AM
24 Comments:
trade online from home.... wait for kids to graduate hs, sell house - move to another house they have outside hellinois, trade online from home...
North Shore is done... 5 yrs at most and that's not including those who walk away from the property and write off the loss...
All that stock brokers need are a computer with Bloomberg News on it, and a phone.
Even Fatso gets it right once in a while.
Dallas and Atlanta are really sad.
The only bad grifts are the ones that trigger the mark to slap down the grifters before the swag can be snatched.
They call me “FLOP’s Porky”.
Only I never torpedo anything put to us board members for a vote. We all march in lockstep with King Kitty for fear of being evicted from the office for noncompliance with John’s orders.
I always was a mindless sheep. Only now it’s on full display.
A veto proof legislature? Fuck you fatass, pay me.
Gov Porky is only doing this to make his Presidential Run Next Year...who is he kidding about not raising taxes? He must not be much of a DemoRat.
I hate what "those " people along with leadfoot and bluegums have done to this once great city.
BJ is pissed! Th when Dems screw each other.
how 'bout a hamburger tax on you fat boy
No problem the increase, and there will be an increase, will now fall on the homeowners backs. Can you say tax increase.
The big financial companies set up backup exchanges in Charlotte, NC a long time ago. It would be pretty easy for them to leave Chicago and New York and move their critical staff to Charlotte. I left the Chicago area for Charlotte 30 years ago. It was a great move!
The only thing that will slow bj down is his inability to fund his “transfer the wealth plan” from those that earn it to those that don’t. Remember, his supporters’ plan is called “First We Get the Money”
Porky is a fitting and perfect name for your fat-ass governor!
You can only tackle the City's embattled finances by spending less.
honestly, what normal money making business would want to stay here in chicago Illinois ??
nobody here likes lawlessness, stupidity on part of elected government officials, its a win win to just leave.
Fats is still pushing the Chinese battery plant. He wants to give them 8 billion to build a battery plant which the Chinese themselves stated would cost 2 billion to construct. Pritzker math...
nonymous said...
The only thing that will slow bj down is his inability to fund his “transfer the wealth plan” from those that earn it to those that don’t. Remember, his supporters’ plan is called “First We Get the Money”
10/17/2023 07:48:00 AM
If you look back at the CTU negotiations of the past, you will find this very idea proposed by them as a way to raise money for their demands. That socialist organization is all in for a transfer of income for their needs.
Big Business always cries about anything other than them making money. American CEOs can't make ends meet on some 240 times the average worker wage. A penny a transaction won't break the bank for these high-flying denizens of finance. The threat to leave is just that; they could have left years ago thanks to technology. Chicago and the Metro Chicago area are still major trade and business centers; moving to some minor-playing East Podunk town further East or West can complicate things.
It's a moot point. The CBOE servers are located in New Jersey and the CME group is in the process of migrating their matching engine to the cloud via google with whom they signed a $10 billion deal three years ago
Spend less. I have made it a point to buy nothing in the city.
Anonymous said...
Big Business always cries about anything other than them making money. American CEOs can't make ends meet on some 240 times the average worker wage. A penny a transaction won't break the bank for these high-flying denizens of finance. The threat to leave is just that; they could have left years ago thanks to technology. Chicago and the Metro Chicago area are still major trade and business centers; moving to some minor-playing East Podunk town further East or West can complicate things.
10/17/2023 11:40:00 AM
The problem is that they are smart enough to realize that, if approved, it would be 3 years and it would be up to $1 a transaction. Well that's not going to break the bank. Next crisis after that, its up to $5. They know how this will go and are ready to call it early.
Three quarters of the people are gone because of open call being eliminated and computerized trading being implemented.
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