Jamie Dimon delves into the ongoing feud between Senator Elizabeth Warren and US billionaires including CFO Leon Cooperman.
Dimon, himself a billionaire thanks to the decades that drove some of the largest US lenders, was asked by CNBC's Wilfred Frost whether President Hopeful Warren was anti-business.
"You really have to ask her what she really means," Dimon said in the interview, where parts of these were scheduled to appear on CNBC's "Closing Bell."
"She uses some pretty harsh words, you know, some would vilify successful people," Dimon said. "I don't like to destroy anyone. I think we should applaud successful people."
Warren has flown billionaires critical of her proposal to raise taxes on the ultra-rich to help fight the costs of her ambitious plans to reduce inequality in the United States That has led to a public squabble with Cooperman, which has, among other things, said that Warren "s ̵[ads1]2;- ing on" the & # 39; f —– ing American dream. "
The Massachusetts senator has shaken up his billionaire class pressure recently, saying that her tax bill can be doubled to 6% on fortunes over $ 1 billion to help pay for a" Medicare for All "plan.
Cooperman and Dimon have both expressed general support for a progressive income tax structure and higher wealth for the wealthy, but Dimon said Wear's proposed law on responsible capitalism would change "the complete nature of how to run a company."
"I think we must look at [how] America was founded on free enterprise; freedom and free enterprise can be replaced, "Dimon said." If people have very specific things that we should do differently than we should think about doing them differently. "
While Dimon reiterated his support for a negative income tax that would encourage more people to work, he warned that factual political changes could not solve the country's problems.
" The road to hell is paved with good intentions when it comes to politics, "Dimon said." Many government programs have been abysmal failures, and we must recognize that both problems must be solved and that the solutions did not work. Let's try something else. "