Thursday, December 16, 2010

Tax deal saves bailed out CEOs millions

Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., praised the President's agreement with Republicans to extend the Bush tax cuts.

"If we're going to strengthen our economy and grow jobs, this type of outreach - and cooperation between the administration, Congress, and the private sector - are critical," says Dimon.

It is no wonder Dimon liked the tax bill which extended the Bush era high income tax cuts for another two years. Dimon's compensation over the last three years has averaged $21,991,394 a year. The tax deal agreed to between President Obama and the Republicans will give Dimon and extra $1,179,000 next year, according to an analysis by Citizens for Tax Justice.

The bank Dimon heads was also the beneficiary of the giant Wall-Street bailout of 2007 and 2008. JPMorgan Chase & Co, along with other Wall Street banks, also poured millions of dollars into a lobbying campaign to water down the financial reforms Congress considered earlier this year.

1 comment:

enoughalready said...

This is so wrong. So very wrong. Taxpayer-bailed out CEO's should be paying some sort of penalty, not getting rewarded.