JPMorgan Chase CEO Jamie Dimon said in a CNBC interview this week that he thinks a wealth tax would be very challenging to implement.
“A wealth tax is almost impossible to do,” he said. “I’m not against having higher tax on the wealthy, but I think that you should do that through their income.”
Dimon added that calculating taxpayers’ wealth would be “extremely complicated,” and he argued that people would “find a million ways around it.”
Democratic presidential nominee Joe Biden has not called for a wealth tax, but several progressive candidates did so during the Democratic primary, including Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.).