JPMorgan CEO backs ‘Buffett Rule,’ advocates 30% tax on millionaires

4 comments

1. The Dems are only advocating for 25% I guess the bankers are actually the socialists!!! Quick someone give the right a new talking point. 

2. You’d think that someone as smart as Dimon and by association as smart as Warren Buffet would understand that we don’t have a taxing problem we have a spending problem. The economy has grown roughly 3% per year since WW2 while government spending has grown 6%.

   Taxes on the wealthy and corporations are voluntary and counter productive..

   The solution to the deficits and debt is to slow spending growth.

3. Should be 70

4. Two things.

   1. Right now most of rich people’s money gets preferential tax treatment. If that doesn’t end, little will change.

   2. Government deficit and debt is out of control for one reason, corporate welfare – but not the way people think about it. The federal government spends more on healthcare than anything else: Medicare, Medicaid, VA, active service, ACA, employees, contractors employees, etc. But while it’s the biggest customer in the world it pays 3-4 times what other developed/rich countries pay per citizen. Military spending is similar. Stop the insanity of spending multiples more than everyone else and you’ll have a balanced budget, more competitive US based business operations, and a much more prosperous country.

   This will never happen due to the corresponding loss of political donations (campaign, party and PAC) and a new generation of ‘grandma over the cliff’ brainwashing the healthcare industries will generate.

   Without addressing these two things, we’re just pushing a rope and wasting time.