CME's Duffy: Proposed Illinois Trading Tax 'Ridiculous'

CME's Duffy: Proposed Illinois Trading Tax 'Ridiculous'

Assessment

Interactive Video

Business, Social Studies

University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses a proposed tax on CME trades, highlighting its potential negative impact on liquidity providers and the irrationality of taxing based on notional value. The speaker argues that such a tax would make trading unprofitable, potentially forcing CME to relocate. The urgency of legislative action is emphasized, with a deadline for approval by May 31st. The proposal is criticized as being short-sighted and detrimental to business efficiency.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the proposed tax rate mentioned in the text?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the speaker compare the taxation of trading to the taxation of real estate transactions?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the potential consequences of the proposed tax on the CME according to the speaker?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the deadline for the Illinois lawmakers to approve any legislation related to the tax proposal?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What does the speaker mean by 'penny wise dollar foolish' in the context of the tax proposal?

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