“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.” Jamie Dimon, the CEO of JPMorgan Chase
As Atrios points out, the top tax rate is 35 percent, not 39 percent. Doy. And this guy is the CEO of a bank that works with numbers and percentages? Jagoff.
Also, if he’s literally paying 35 percent — the full marginal tax rate — he’s either a big fat idiot, or he should fire his accountants for gross incompetence because after massive deductions and loopholes, he should really be paying a much lower effective tax rate. Warren Buffett’s effective 2010 tax rate, for example, was 17.4 percent. Nowhere near 35.
Adding… WAAHHHHH! I’m gazillionaire Jamie Dimon. WAAAHHHH!
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