JPMorgan’s CEO doesn’t know what tax rate he pays


James "Jamie" Dimon (Daniel Acker/Bloomberg News)

The only problem? The top marginal tax rate is 35 percent. And that’s only on income after $250,000. On income under $250,000, the tax rate is lower. So even before Dimon’s accountant gets involved, he’s not paying 35 percent, much less 39.6 percent. “Next time you read an article about the behavior response to marginal tax rates on high income earners,” comments Matt Yglesias, remember “that President Obama wants to restore the top marginal rate to the level that Dimon thinks it already is. Meanwhile, Dimon doesn’t even know what tax rate he pays.”

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