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Jamie Dimon Slams Biden Tax Plan

serfserf Member Posts: 9,225 ✭✭✭✭
edited May 2021 in Politics

The big investors are threatening to pull their capital investments and will go elsewhere? You would have thought the smart ones have already have when Biden got elected.

serf

https://www.youtube.com/watch?v=Rue3sTkDFfc&t=7s

The tax increase is actually four times what the tax decrease was from 2017," Dimon said during a Thursday virtual hearing before the US House Committee on Financial Services. "You all know the phrase the devil is in the details, well the details here are all that matter, not the top line of 28%."

"If you want to have a healthy, growing, competitive America against the rest of the world, you need a global, competitive tax rate," Dimon added. "It would be detrimental to a lot of companies, it would push a lot of capital overseas."

Comments

  • chiefrchiefr Member Posts: 13,008 ✭✭✭✭

    DEMOCRATS really dont give a crap if they destroy the economy and the last thing they want is a competitive tax rate. These are the same people that gave us a 38% corp tax rate.

  • Floyd621Floyd621 Member Posts: 1,623 ✭✭✭✭

    All part of the plan... For China...

  • BobJudyBobJudy Member Posts: 5,385 ✭✭✭✭

    Joe and his liberal keepers must have flunked any economics class that they might have taken. Corporate profits will not suffer with a tax increase. Corporations don't pay taxes, they just pass the costs to the consumer. Raising the minimum wage will not cause those same companies anything either as that cost will also be passed to the consumer. His plan to increase taxes for his social and infrastructure plans will never work. The snowball effect of inflation due to his increases will forever keep his goals monetarily out of reach. The only ones to suffer will be those on a fixed income like retirees. Anyone who is about to retire or is already there and votes democrat is beyond ignorant. Judy and I should be O.K. but for every couple like us there are probably 10 that will be hurt when their S.S. dollars value is cut in half. Bob

  • serfserf Member Posts: 9,225 ✭✭✭✭

    Your savings would not have shrunk if you had real money instead of Fiat currency. Gold &silver is money everything else is credit. We got sold out by Our elected representatives in 1913 to 1933 to 1964 to 1971 when the petrol toilet paper came on line and gasoline went to .35 cents a gallon to 1.00 dollar. They even axed the copper penny in 1980's and now a real copper penny is worth 3 cents ! They said copper had no intrinsic value! What a joke the country has came to.

    We have been manipulated to the umpteenth degree by the money changers.

    serf

  • BobJudyBobJudy Member Posts: 5,385 ✭✭✭✭

    Why would it not have shrunk? With inflation it would just take twice as much gold, silver, diamonds or passenger pigeon feathers to buy anything. Inflation shrinks all forms of currency. That's basic economics. Are you not aware that when our currency was backed by gold we still had inflation? Bob

  • serfserf Member Posts: 9,225 ✭✭✭✭
    edited May 2021

    Well Bob if you have any of those tangible items at present and you pay for it and kept it before the confiscation or disuse of it and taken back from circulation then I would challenge you that they are frozen in time against the treasury digits then from now.here in The USA.

    And just in case it escapes you what a pirate's treasure chest is. Well It's sure ain't connected to anything that you get from the government Federal Reserve now that they call money now and circulates freely in commence exchanges . it's all on the backs of the poor tax payers as increase debt with higher Taxes with more debt. In others words it's all based on Faith which the Federal reserve Temple has then it's about played out to the oblivion of absurdity.

    serf


    http://apuffofabsurdity.blogspot.com/2019/12/age-of-oblivion-another-end-of-decade.html

    Unless central banks decide to keep borrowing rates low indefinitely, by 2030 a roughly $12 trillion corporate debt bubble will burst and break the economy as we know it. . . . The internet as we know it is largely American, but by 2030 the Chinese Communist Party will have built an entirely new internet where Beijing attempts to monopolize key supply chains, stifle free speech and hoard personal data. That’s when things could get weird. . . . If we don’t place international cooperation over national self-interest, the world will be unprepared for this population explosion, which could become a catalyst for greater global conflict with dire implications for the global economy, migrants and the environment. . . . The economy, politics and even family life will struggle to master a world of evermore intelligent systems that operate in ways we understand less and less. . . .  

    The next big trend will be outright, brazen, shameless lying. . . .  If the battle for a shared, fact-based reality is not fought and won, 2030 will make the outrages and demagogy of 2019 look like a golden age of comity.

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