JPMorgan CEO is Alright with paying larger taxes

JPMorgan Chase CEO Jamie Dimon would be fine with getting to pay out a bit far more in taxes.

Dimon, who produced $ twenty million final year and is now a billionaire , produced the remarks Sunday on NBC’s “Meet the Push.”

“If you said to me, ‘Would you pay ten% a lot more?’ I would have no issue with that,” he mentioned.

How considerably Wall Avenue pays in taxes has become a hot issue on the 2016 campaign path. Republican frontrunner Donald Trump says it is a “total joke” that CEOs get paid so significantly.

Democrat Bernie Sanders regularly talks about how improper it is that the average American CEO “now tends to make practically three hundred occasions more than the regular worker.”

Dimon has long been a Democrat. He supported Hillary Clinton in the past, but would not pledge his support to her on Sunday.

“I am not going to get concerned in politics at this level,” he mentioned, incorporating that he is “nevertheless a Democrat.”

Trump has but to launch his tax strategy, but he has stated that hedge fund professionals are ” getting absent with murder ” and should pay a lot more in taxes. Sanders has long gone as considerably as to say he would be Ok with a 90% tax charge on the wealthiest Americans (the leading cash flow tax rate is at the moment 39.6%).

Whilst Dimon indicated he would be prepared to pay higher taxes, he also emphasised that funds wants to be spent much better in Washington on things like streets and schooling.

He blasted Congress for considering shutting down the authorities at the end of the thirty day period.

“A govt shutdown is just negative management,” the JPMorgan ( JPM ) CEO explained.

Some Republicans will not want to go budgets for the up coming fiscal 12 months that begins Oct. one or increase the debt ceiling — the U.S. borrowing limit — without having defunding Planned Parenthood.