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-   -   Democrat Jamie Dimon Speaks Out... (http://www.politicalchat.org/showthread.php?t=11829)

whell 07-14-2017 10:32 AM

Democrat Jamie Dimon Speaks Out...
 
...about DC dysfunction. However, here's the part that got my attention.

http://www.cnbc.com/2017/07/14/jpms-...ings-call.html

It's almost an embarrassment being an American citizen traveling around the world and listening to the stupid s--- we have to deal with in this country, and at one point we all have to get our act together or we won't do what we're supposed to [do] for the average Americans and unfortunately people write about this saying like it's for corporations. It's not for corporations. Competitive taxes are important for business and business growth, which is important for jobs and wage growth. And honestly we should be ringing that alarm bell, every single one of you, every time we talk to a client.

So, here's a Democrat who has common sense on taxation, which puts him at odds with the leadership of the Dem party. Bravo Mr Dimon.

d-ray657 07-14-2017 11:07 AM

So the President of a mega-bank says corporate taxes should be lower. I am shocked I tell you, just shocked.

Pio1980 07-14-2017 11:09 AM

We should also be paying comparable wages. Oh, wait----.

whell 07-14-2017 11:48 AM

Quote:

Originally Posted by d-ray657 (Post 357147)
So the President of a mega-bank says corporate taxes should be lower. I am shocked I tell you, just shocked.

So, you're saying you disagree with this statement:

Competitive taxes are important for business and business growth, which is important for jobs and wage growth.

Are you also saying that higher tax rates for business are stimulative and create business growth, and supports job and wage growth?

CarlV 07-14-2017 11:56 AM

We do not need as much business growth from taxes as we do from putting money in the pockets that people can spend, which they will do, then business will grow and grow and then America will be great again.

CarlV 07-14-2017 11:57 AM

He is right about the embarrassment part too, but it is more like laughing stock to the rest of the world.

Rajoo 07-14-2017 12:07 PM

Quote:

Originally Posted by whell (Post 357154)
So, you're saying you disagree with this statement:

Competitive taxes are important for business and business growth, which is important for jobs and wage growth.

Are you also saying that higher tax rates for business are stimulative and create business growth, and supports job and wage growth?

Every time a GOP induced tax cuts have passed, the economy has gone into a recession. Why is that? Because it defies gravity and actually seeps up, does not trickle down.

Besides who gets to write the tax reform (an oxymoron) laws anyway?

finnbow 07-14-2017 12:32 PM

Effective tax rates for American businesses are far less than the marginal corporate tax rates that compare unfavorably to competitors overseas. So, comparing effective rates with marginal rates here and abroad is a bit of apples and oranges.

That said, tax reform (both personal and corporate) is long overdue. However, today's GOP is pretty much the last group I would trust to do it and do it right.

whell 07-14-2017 01:41 PM

Quote:

Originally Posted by Rajoo (Post 357158)
Every time a GOP induced tax cuts have passed, the economy has gone into a recession. Why is that? Because it defies gravity and actually seeps up, does not trickle down.

Besides who gets to write the tax reform (an oxymoron) laws anyway?

Quote:

Originally Posted by finnbow (Post 357163)
Effective tax rates for American businesses are far less than the marginal corporate tax rates that compare unfavorably to competitors overseas. So, comparing effective rates with marginal rates here and abroad is a bit of apples and oranges.

That said, tax reform (both personal and corporate) is long overdue. However, today's GOP is pretty much the last group I would trust to do it and do it right.

What do you think a Dem tax reform product would look like?

finnbow 07-14-2017 01:53 PM

Quote:

Originally Posted by whell (Post 357174)
What do you think a Dem tax reform product would look like?

Don't know and it doesn't matter. Tax reform is number two on the GOP agenda once they work their magic on TrumpCare. Hopefully, their tax plan will garner somewhere north of 12% where their Senate health plan currently sits.


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