Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
CTU is big business. We keep pretending unions are these altruistic entities when they are really massive tax exempt corporations. That’s their business, but that’s exactly what it is: business.
I remember being on the board of CME and being confronted with this tax as a member of the Budget Committee. I wanted to ship all the jobs that weren’t tied directly to the floor out of the city to save the tax. It’s a dumb tax but the socialists at the CTU and the socialists in the city council don’t see it that way. I hope they pass this and a transaction tax on trading. I am sure it will benefit the city…..well the moving companies in the city anyway
Jeff. As you know far better than I do, a transaction will cause the CME to move out of Chicago within months. Lots of tax revenue would be lost, particularly when collateral revenue is considered.