J.P. Morgan CEO calls for “Marshall Plan for America,” floats higher taxes on wealthy

J.P. Morgan Chase CEO Jamie Dimon wrote on Thursday that the country may need to tax wealthy individuals more to fund infrastructure and education spending.

Jamie Dimon, chairman and CEO of J.P. Morgan Chase, participates in a Business Roundtable CEO Innovation Summit discussion in Washington, D.C., on December 6, 2018. Dimon wrote on April 4 that the country may need to tax wealthy individuals more to fund infrastructure and education spending. Mark Wilson/Getty Images

Commenting on the slow growth in worker pay, Dimon wrote that"forty percent of American workers earn less than $15 an hour, and about 5% of full-time American workers earn the minimum wage or less, which is certainly not a living wage." "Socialism inevitably produces stagnation, corruption and often worse—such as authoritarian government officials who often have an increasing ability to interfere with both the economy and individual lives—which they frequently do to maintain power," he wrote.

"Show me a country without any large, successful companies, and I will show you an unsuccessful country—with too few jobs and not enough opportunity as an outcome," Dimon wrote."And no country would be better off without its large, successful companies in addition to its midsized and small companies. Private enterprise is the true engine of growth in any country."

Use taxes money wisely and smartly...

FFS nothing prevents any American from paying more in taxes. They can do it right now.

Talk about a 180. This guy championed the Corp tax cuts, with false promises of growth & competitiveness. Any proposal from him must be littered with loopholes. I wouldn't let a banker from the 08 recession set the rules & policies on taxes.

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