I don’t know what’s worse, being lectured by a bailout recipient on tax policy or realizing that one of the largest bank ceo’s doesn’t have a clue about what he’s talking about and is proving his stupidity in public to boot. Regardless, Reuters has the story of our brave and intrepid ceo blasting away blithely about something he obviously knows nothing about.
“I for one have no problem, as a well-off American… paying taxes,” Dimon told the annual spring meeting of the Council of Institutional Investors.
“I think those well off should pay a lion’s share, I have no problem with that,”
I think the cover story for Bloomberg may have gone to his head. Now he believes he’s a politician who can ignore the facts as he sees fit to promote, well, I’m not sure what the hell he’s promoting.
Let’s start with some facts for the factually challenged ceo of one of the largest banks in the US. The National Taxpayers Union has stats from 2008. The top 1% of taxpayers, as measured by AGI, paid a little more than 38% of ALL taxes. The top 10% of taxpayers, again by AGI paid a little more than 69% of ALL taxes. The top 25% of taxpayers, by AGI paid a whopping 86% of all taxes.
Seriously Jamie, how much more progressive do you want or do you not know the facts?
This seems to be one of those canards that liberals seem to spout off. This country does have a fairly steep and progressive tax regime. We really do, even though you don’t want to believe the facts of the matter.
The rich, contrary to your beliefs do pay their fair share. Since you were so famously described by the NY Times as wanting all the facts, including the raw facts, you may want to take these facts and understand them before opening your mouth.