Huffpost Business

Jamie Dimon: 'I Don't Mind Paying 39.6 Percent In Taxes'

Posted: Updated:
JAMIE DIMON TAXES
AP

Oct 10 (Reuters) - The chief executive of JPMorgan Chase & Co, Jamie Dimon, waded into the U.S. fiscal debate on Wednesday when he said he was willing to pay a higher individual tax rate while calling for lower corporate taxes so U.S. business can compete in a global economy.

"I don't mind paying 39.6 percent in taxes," Dimon said in an interview in Washington at the Council on Foreign Relations, backing the Democrats' position. He added he might back an increase in the capital gains tax rate to 20 percent, another proposal by President Barack Obama.

Republicans want to extend low rates that expire on Dec. 31 for all income groups, while Obama and Democrats want to extend the lower rates only for households earning up to $250,000.

Dimon is one of several CEOs lobbying lawmakers to create more certainty around tax and budget issues, as the United States faces a "fiscal cliff" of $600 billion in tax hikes and spending cuts should Congress fail to act by the end of the year.

Around the Web

Jamie Dimon - Wikipedia, the free encyclopedia

Jamie Dimon News - Bloomberg

Ina Drew, Jamie Dimon and JPMorgan Chase's $6 Billion Mistake ...

Jamie Dimon - Fortune Finance: Hedge Funds, Markets, Mergers ...

Jamie Dimon « Dealbreaker: Wall Street Insider – Financial News ...

Don't Count On Jamie Dimon's Help During The Next Financial Crisis

Jamie Dimon: There will be fiscal discipline in the US

Dimon: We Did Fed a 'Favor' in Buying Bear Stearns

Maybe Jamie Dimon wasn't so clever with Bear

Jamie Dimon Can Count Tom Brady and Warren Buffett as Friends