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. |
So the President of a mega-bank says corporate taxes should be lower. I am shocked I tell you, just shocked.
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We should also be paying comparable wages. Oh, wait----.
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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? |
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.
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He is right about the embarrassment part too, but it is more like laughing stock to the rest of the world.
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Besides who gets to write the tax reform (an oxymoron) laws anyway? |
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. |
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