Ever since Senator Elizabeth Warren (D-MA) proposed a wealth tax on net worth and Representative Alexandria Ocasio-Cortez suggested a 70 percent marginal tax rate on the “tippy top,” the left has been salivating over the prospect of hiking taxes on the rich. In an age of envy, this is the most desirable policy, even if it doesn’t provide any benefit to anyone.
Remember, the leftist doctrine is the haunting fear that someone, somewhere might be happy.
What do the targets of this policy have to say?
Well, JPMorgan CEO Jamie Dimon thinks the rich should be paying more taxes.
In a statement emailed by JPMorgan, Dimon says:
“I believe that individuals earning the most can afford to pay more, and I have no problem paying higher taxes to address some of the fundamental challenges and inequities in our society.
However, we need to ensure that our tax dollars are going where they can be most effective – like expanding the earned income tax credit and other programs that support the people and communities who really need it.”
So, here are two questions:
First, would Dimon endorse a 70 percent capital gains tax, not an income tax?
Second, why doesn’t Dimon send a check to the Treasury?
Rather than endorsing a soak-the-rich policy, voters would be better off demanding small government, not more.
JD does not care if the tax rates go to 70% because he has enough money to pay accountants to save him millions on taxes.
Unlike all the small business owners who do not.