American billionaire, head of the investment bank J.P. Morgan Chase Jamie Dimon opposed the introduction of a tax on the rich in the country, writes CNBC. He called for taxing the income, not the property of wealthy people.
In general, Dimon is positive about the idea of levying more taxes on wealthy people. However, he believes that property tax is difficult to administer since the value of assets itself is often difficult to calculate.
вЂњIt is almost impossible to impose a wealth tax (in the form in which the legislators are proposing),вЂќ the banker noted, adding that wealthy Americans will find many ways to get around it anyway.
A good alternative, according to the top manager, would be a tax on income above a certain level. вЂњThis will make (the state) more difficult to deceive,вЂќ Dimon concluded.
Recently, several American politicians and financiers have come forward with proposals to raise tax rates for wealthy people. The most active was former Democratic presidential candidate Bernie Sanders.
Experts agree that tax increases, in general, are inevitable in the foreseeable future, as the US authorities have increased spending too much to support the economy amid the coronavirus pandemic. In the spring, Congress approved a $2 trillion aid package.