It’s not going to end well:
I’m buying a bit more gold while it is still cheap
Maybe JPMorgan is spending like a drunken banker.
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Yep. I bet Dimon would gut our spending on infrastructure, defense, social security, Medicare and Medicaid before he would surrender one penny in tax breaks.
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Question: Where is all of that money that the US government is spending going? It seems that it should be piling up somewhere. So where is it piling up? Whose bank accounts are growing?
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Dimon donates primarily to the Democratic Party.[35] In May 2012, he described himself as “barely a Democrat”[36] stating,
I’ve gotten disturbed at some of the Democrats’ anti-business behavior, the attacks on work ethic and successful people. I think it’s very counterproductive. … It doesn’t mean I don’t have their values. I want jobs. I want a more equitable society. I don’t mind paying higher taxes. … I do think we’re our brother’s keeper but I think that attacking that which creates all things, is not the right way to go about it.[36]
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I wonder what he means by ‘attacking that which creates all things’. Makes capitalism and/or job creators sound a bit like gods to me.
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Relevant update (I don’t think this is a coincidence that he is being asked questions about being POTUS, even though later he states that he won’t run for such):
Dimon’s tax strategy sounds a lot like wealth redistribution.
He said he would double the earned income tax credit, a credit for low-earning workers, and make it so those without children can also qualify more easily.
“That would put more money into those communities, and they would help their kids,” he said. “I would do that tomorrow.”
In turn, he’d play Robin Hood and increase taxes on the rich.
“'I’d make people like you pay a little bit more,” he added, turning to Ackman. “This carried interest stuff would be gone the day I got in office because it is unfair.”
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I can hear Sean Hannity screaming “COMMUNIST” already.
Steve