Re:Jamie Dimon blows up at DC's dysfunction
by tptacek on Friday July 14, 2017 @03:30PM
(#14772501)
This is transparently self-serving.
1. The US remains one of the least bureaucratic, least regulated countries in the west to do business. We have at-will employment, low unionization, relatively minimal mandatory benefits, trivial incorporation, and reliable and well-understood corporate and civil law. The idea that Jamie Dimon wanders the Earth and finds every other country more congenial to to business is laughable.
2. Dimon, a Trump ally, would sorely like the US tax code tilted further in the favor of corporate ownership and financialization. He's happy to leave out the part about how his industry nearly blew up the world economy, and was supported for years during the Obama administration by bailouts.
It's possible that there's good policy behind lowering the corporate tax, which is distortive and inefficient. On the other hand: DC is "dysfunctional" for a reason. The system was designed specifically to keep public policy from whipsawing between extremes every time a new party took office. If he's embarrassed to be a citizen of a country like that, he has more than enough means to secure citizenship somewhere else. Don't hold your breath on that happening.
1. The US remains one of the least bureaucratic, least regulated countries in the west to do business. We have at-will employment, low unionization, relatively minimal mandatory benefits, trivial incorporation, and reliable and well-understood corporate and civil law. The idea that Jamie Dimon wanders the Earth and finds every other country more congenial to to business is laughable.
2. Dimon, a Trump ally, would sorely like the US tax code tilted further in the favor of corporate ownership and financialization. He's happy to leave out the part about how his industry nearly blew up the world economy, and was supported for years during the Obama administration by bailouts.
It's possible that there's good policy behind lowering the corporate tax, which is distortive and inefficient. On the other hand: DC is "dysfunctional" for a reason. The system was designed specifically to keep public policy from whipsawing between extremes every time a new party took office. If he's embarrassed to be a citizen of a country like that, he has more than enough means to secure citizenship somewhere else. Don't hold your breath on that happening.