Thursday, December 8, 2011

He Doesn't Even Know What He's Bitching About

JP Morgan Chase CEO, Obama buddy and unspeakable asshole Jaime Dimon said something pretty awesome yesterday, continuing the "rich people whining" theme of this week's posting:
Next time you read an article about the behavior response to marginal tax rates on high income earners, I would urge you to refer back to JP Morgan Chase CEO Jamie Dimon's fine whine that "most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes."
What makes that so incredible? Matt Yglasias:
The thing about this is that the actual top marginal income tax rate is 35 percent. The entire debate in congress over taxes is that President Obama wants to restore the top marginal rate to the level that Dimon thinks it already is. Meanwhile, Dimon doesn't even know what tax rate he pays. Just saying.
Jaime Dimon, while crying about paying too much in taxes... DOESN'T EVEN FUCKING KNOW WHAT TAX RATE HE'S PAYING.

This is pure speculation, but do you want to guess why he doesn't know? I'll say it's because he's so fucking rich that the difference between paying 35% and 39% makes absolutely ZERO difference to him in any sort of tangible way. Which is, of course, the whole point of progressive taxation, and forcing people like Jaime Dimon to pay a higher tax rate. You seriously can't make this shit up.

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