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How Should Wealth and Work Be Treated in the Tax Code?

Late last week, Democratic presidential candidate Joe Biden released a piece reviewing his tax proposals, contrasting them with President Donald Trump’s tax ideas. A major theme within this piece can be summarized in the title: “A Tale of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work.” Biden raises an important question regarding how work […]

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New York Stock Exchange Signals Willingness to Relocate Servers to Avoid Proposed New Jersey Financial Transaction Tax

September 26th, a Saturday, is an ominous day for New Jersey lawmakers hoping to generate billions of dollars in annual revenue from a financial transaction tax targeting New York-based stock exchanges that currently rely on electronic infrastructure located across the river in New Jersey. On that day, all the U.S.-based exchanges will simulate a day’s […]

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New York and New Jersey Consider Financial Transaction Taxes

Seeking new sources of funding, New York and New Jersey—two states at the heart of global financial markets—are considering financial transaction taxes. New Jersey’s A4402 would impose a 0.25 cent tax on every financial transaction processed in the state. In New York, some lawmakers have proposed a rate as high as 5 cents per share […]