According to the CEO of J.P. Morgan Chase & Co, Jamie Dimon, Washington politics are so dysfunctional that it has damaged the economy of the country with policies that have made business difficult to conduct. “It’s almost an embarrassment being an American citizen traveling around the world and listening to this stupid shit we have to deal with,” Dimon said to investors on Friday, according to the Wall Street Journal. Having completed multi-country tour to Argentina, Ireland, and Israel, Dimon claimed that “every single one of these countries understands that practical policies that promote business and growth [are] good for the average citizens.”

According to Dimon, business is restrained by politicians who have failed to address the tax code while approving damaging regulations. “We have become the most — one of the most bureaucratic, confusing, societies in the planet,” Dimon said. “We have to get our act together.”

While Dimon reported record profits for J.P. Morgan, reduced earnings can be expected. This spring, Dimon said in a letter to investors, "America is probably stronger than ever before.” However, excessive corporate tax rates, ageing domestic infrastructure, and warfare overseas are hindering economic growth, he said. “It is clear something is wrong — And it’s holding us back,” Dimon wrote. He wrote: “One of the unintended consequences of high corporate taxes is that they actually depress wages in the United States,” Dimon wrote. “We must fix this for the benefit of American competitiveness and all Americans.”



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Spero News editor Martin Barillas is a former US diplomat, who also worked as a democracy advocate and election observer in Latin America. His first novel 'Shaken Earth', is available at Amazon.

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