A bill to tax stock trades

In Columns by Hal PetersonLeave a Comment

Albany: Rank-and-file legislators are preparing a bill to raise billions of dollars through a small tax on stock trades to avoid potential deep cuts in education and health care and higher taxes forced by the state’s lost revenue from the COVID-19 emergency.

“we are in a desperate financial situation,” said Joseph Stiglitz, an economics professor at Columbia University who won a Nobel Prize in 2001.

“If we don’t find additional sources of revenue, we are looking at devastation of the public sector in the state and local level that will have very serious consequences for our productivity and our society.”

Of interest, a bill requiring chares still applies, set aside, when the New York Stock Exchange stated (if used) they would transfer operations to New Jersey.

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