JPMorgan CEO Says Rich Should Pay 'Lion's Share' Of Taxes, Warns of Dodd-Frank's Effect
WASHINGTON (By Dave Clarke) - The wealthy should pay the largest portion of U.S. taxes, JPMorgan Chase Chief Executive Jamie Dimon said on Tuesday, injecting himself into the budget debate as the threat of a government shutdown looms.
Dimon, who also backed getting government spending under control, spoke as Republicans and Democrats failed to reach agreement during White House talks aimed at forging a budget deal that would keep the U.S. government operating beyond Friday.
On Tuesday, House Republicans also unveiled a plan for tackling long-term budget shortfalls that focuses on slashing spending including what goes to Medicare and Medicaid.
"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," he said. "But I think we
First Posted: 04/ 6/11 08:14 AM ET Updated: 04/ 6/11 09:25 AM ET