Morgan Chase CEO Fears Corporate Tax Cuts Could Increase The National Debt
In most situations, corporate tax cuts are something that are met with open arms. JP Morgan Chase CEO Jamie Dimon though has other thoughts. Dimon believes that the proposed corporate tax cuts by the President Donald Trump Congress could be one that could backfire and put the country in worse shape than it is already in. Dimon believes that the new Trump tax overhaul plan and package could be one that could increase the national debt over the next ten years by $1.5 trillion.
Dimon has been one of the spearheads of major American CEO’s who have been looking to reduce the national debt over the past five years. It was back in 2012 when Dimon hosted a ‘Fix The Debt’ summit at the JP Morgan Chase headquarters in New York City. Some of the big name corporate heads that were at that meeting were ones such as David Cote of Honeywell, Lloyd Blankfein of Goldman Sachs, and people of Congress such as Virginia Democratic Senator Mark Warner and the Republican ranking senator from Tennessee in Lamar Alexander.
‘The inability to face our fiscal reality is a concern’ wrote Dimon in his yearly letter to company investors and executives at …