Dimon Says Rich Should Pay More to Fund Low-Income Tax Cuts
- Lawmakers are debating expansion of earned income tax credit
- JPMorgan CEO points to tax breaks ‘that shouldn’t be there’
Jamie Dimon
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Cutting taxes for lower-income Americans would improve their upward mobility, health and lives overall, and contribute to growth of the US economy — even if doing so means raising taxes for wealthier people, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said.
“This is, I think, as much of a no-brainer policy as any I’ve ever seen,” Dimon said Friday at a panel discussion in Washington hosted by the Bipartisan Policy Center. Tax reductions for lower-income people would be used for food, taking care of children and education. “And I would pay for it by taxing the wealthy a little bit more.”