President Donald Trump is sounding the alarm over a proposed expansion of the New York Stock Exchange to Dallas, warning it would be an "unbelievably bad thing" for New York City and a major test of its political leadership.
According to The Post Millennial, the NYSE is exploring plans to extend its presence into the American South, a move that underscores the ongoing migration of capital and talent away from high-tax, regulation-heavy blue states. For conservatives, the development highlights a familiar pattern: when progressive policies punish success, businesses and investors vote with their feet.
President Trump took to Truth Social to denounce the idea in stark terms, writing, "Building a 'New York Stock Exchange' in Dallas is an UNBELIEVABLY BAD THING FOR NEW YORK. I can't believe they would let this happen. A big test for the new Mayor!" His remarks reflect a broader concern on the right that New Yorks political class is squandering the citys status as the financial capital of the world through hostility toward free enterprise.
Dallas Mayor Eric Johnson, a pro-business Democrat who has increasingly broken with progressive orthodoxy, openly agreed with President Trumps assessment. "President Trump is right! New York Citys financial institutions moving to Dallas isn't good for New York, but it's now inevitable," he said, according to Fox Business.
Johnson framed Dallas as a refuge from left-wing economic experiments that have driven out employers and taxpayers from coastal cities. "Ive said it before and Ill say it again: Dallas is Americas first Sanctuary City from Socialism," he added. "Our financial services sector has been steadily growing for years, and now business leaders from across the countryand especially in New Yorkclearly see that Dallas embodies the future of free enterprise and the American dream."
The Dallas mayor has repeatedly predicted that Wall Street firms will continue to flee New York for the Lone Star State as the citys leadership lurches further left. He has pointed to the election of socialist New York City Mayor Zohran Mamdani as evidence that the nations financial hub is being placed in the hands of those ideologically opposed to capitalism.
"New York has a mayor who is openly hostile towards the business community and is pushing for higher taxes on job creators," Johnson said. "As a result, I predict an avalanche of Wall Street firms moving to Dallas."
Texas and Florida have already become prime destinations for businesses and residents escaping the tax burdens and regulatory excesses of states like New York and California. Between 2012 and 2022, 380,000 New Yorkers moved to Florida, taking an estimated $37 billion in taxable income with theman exodus that may only accelerate if the NYSE and other financial giants continue to look south.
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