Rose for Alderman
Friday, May 16, 2014
Thursday, May 8, 2014
Is a Dime To Much to Ask for Our Kids Future ?
Transaction Revenue fee’s brought in by all 4 Chicago Exchanges CME Group, Chicago Stock Exchange and the Chicago Board of Options I would like to propose a new Idea and a new way to generate revenues by enacting a fee of .10 Cents per transaction on all trades executed on the Chicago’s major Commodity, Stock and Option exchanges as well as their computerized trading platform systems.
This fee would only be per-transaction, not per share so if you did one share or a billion shares the fee would still only be ten cents. This fee will not hurt the small investors nor the lager investment banking and or trading firms.
I would also like point out since 9/11 that our exchanges here are constantly being looked at as a target for terrorism and this has added high cost to our city and state budgets for security monitoring to help ward off such attacks with no source to help offset and pay for these ongoing additional cost. These Exchanges were originally set up as non-profit entities but over the past few years have now become for profit enterprises and the jobs that once where there offered people are not available.
The exchange floors have implemented computerized systems for executing trades and as a result, these firms no longer employ a large staff need the large staff which in return has decreased payroll taxes to the state. Nevertheless, using the computerized systems has helped these firms to keep their profits margins high and their CEO and other top executive bank account’s fat with bonus and profits. These four exchanges combined conduct over 1 billion transaction a month thus giving our state an opportunity to seize around 100 million dollars per-month giving us anywhere from 500 million to over 1 billion dollars of new revenue to our state’s coffers which could go to schools, pensions funding, health care and infrastructure projects which will help bring jobs to the people of Illinois.
Illinois would be the first State to enact this type of revenue stream but once it is done, other states such as NY or California that have exchanges could potentially copy and follow our (Illinois’) lead.
The ten cent transaction fee over ten years would increase to $1.00 per transaction not per share The transaction fee has no mention of the exemptions along with the CME management fee. So just a reminder Floor members, Illinois residents, and Agriculture would be exempted. The CME would collect between a 5 to 10% fee from the fee's they collect via the exchanges.
This will allow the State to discontinue the 136 million a year it gives the CME, because they would have a revenue stream of 150 to 500 million dollars a year.
Who am I ?
Throughout his
professional career, Vincent Rose has proven himself as a leader. Someone who
has the proven ability needed for Alderman of the 7th ward, Vincent
has been a committed leader within the community by building efficient teams,
solve problems.
Vincent Rose has the
vision needed to help redefine and plan for better safety for the community to
help build a safer and a brighter future for our children. His lifelong
professional and political managerial experience has proven that Mr. Rose
ability to communicate with people at all levels, as well as the understanding
and sensitivity needed to speak with community and grass roots organizations so
that the people of the 7th Ward has a advocate who truly understands
the pain that our community is in not just from the random deaths but the lack
of real Job Opportunities, Vincent Rose as the next Alderman for the 7th
Ward will speak out and stand up on our community’s behalf.
Almost every weekend, Vincent, can be found
volunteering his time for the Rainbow Push Coalition. An organization whose
leadership works infinitely to improve lives our local as well as the global
community.
Currently, Mr. Rose
serves as an Officer with Cook County , where he has gained
a real front line understanding of the complex issues surrounding the criminal
activity as well as the Gang and Gun Violence that plagues Chicago and haunts law
enforcement. Prior to his career in public service Mr. Rose worked in Corporate
America General Motors. Mr. Rose has attained broad academic success that
includes an undergraduate degree, law school and a Masters Degree, Mr. Rose is an
active member of the Salem Baptist Church of Chicago.
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