Support for tax reform grows as Wall Street CEO says current tax code is ‘legitimate concern’
JP Morgan CEO Jamie Dimon in an exclusive interview with Maria Bartiromo this week says that he, whose company received bailout money, thinks Congress needs to reform tax policy and structure it to “help everyone compete.”
DIMON: Tax reform, if it’s done right, would help business grow faster, and would help all Americans. And, you know, we’ve had this debate, this corporate tax and individual tax, and we’re not going to help the companies, or we don’t want to help the individuals. What you want to do is help everyone compete. Remember, when companies do well they also pass better prices onto consumers, and, so – everyone should pay tax, but our system is driving capital overseas right now. And, I just think that’s a mistake, and the damage is permanent. So, the question to me is how long is it going to take before we say let’s stop this?
BARTIROMO: And, you’re saying reform taxes, and then use money towards infrastructure and education, the things that actually help people.
DIMON: Look, what people are worried about is we raise taxes, and it goes into Washington. It’s like a giant sucking sound down there, and that’s a legitimate concern, you know? We do waste a lot of money…
Tea Party Patriots supports tax reform and, while we disagree with Wall Street on many issues, this shows how much tax reform is needed in this country! The American people are fed up with our suffocating tax code. And, though Tea Party Patriots doesn’t endorse the particulars of Mr. Dimon’s tax-reform ideas, we’re happy to see the issue is getting air time. Click here to help us encourage lawmakers to support a tax code that is simpler, flatter and fairer!