Bob Hoge writes for RedState.com about a top banking executive’s recent warning.
The CEO of the world’s largest bank, JPMorgan Chase head Jamie Dimon, appeared on Fox & Friends Tuesday and said he knows exactly why residents are fleeing blue states: progressive policies stink, they’re destructive, and they don’t work.
Any RedState reader already knows this, but apparently it’s news to the Left. Why, leftists seemingly ask, don’t our subjects like the rising crime, homelessness, high taxes, and insane housing costs we bring them? They should know what’s good for them.
Dimon said, yeah, not so much:
Jamie Dimon sounded off on high taxes and poor quality of life being major factors in the exodus of people and businesses from blue states.
“I tell people everyone’s got to compete, including cities, and for a city to compete, of course it’s quality of life, it’s your subways, it’s your hospitals,” Dimon said.
“But it’s also individual taxes, state taxes, corporate taxes, and it drives people out,” he continued.
Dimon compared blue states and red states, saying “all you have to do is look at California versus Nevada” and “New York versus Florida.”
“Look at California versus Nevada… New York versus Florida and there’s a huge exodus taking place. It’s not good for the city.”
“And people just make a mistake, ‘oh, just tax these people.’ But that’s the outcome. And very often people think they’re being moral by doing that, but they’re not. What they’re doing is they’re hurting your own city.”
Dimon is not everyone’s favorite banker — President Trump is suing him over JPMorgan’s debanking of his companies in 2021 — but it’s hard to argue against his points here.
Despite his strained relationship with the president, Dimon surprisingly backed the operations against Iran and said we should all be rooting for America’s success in bringing down the sadistic regime.
