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Don't Talk To Jamie Dimon About Income Inequality When Everyone In The Middle Class Is Taking Pix On An iPhone 6

Twenty years ago they would've been using flip-phones. Life is great. Case closed.
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Over the last number of years, you've probably noticed that the United States has a li'l bit of an income inequality problem, an issue currently being debated by both presidential hopefuls and corporate executives. What are Jamie Dimon's thoughts on the matter? It's funny you ask that, because it came up today at an event he was attending in Detroit. While the JP Morgan CEO thinks that sure, income inequality has gotten a touch worse recently, things are actually way better for the little people. The clearest example that life is pretty sweet for the proletariat? Those fancy ass smart phones they're plugging into the aux jack of their 4-cylinder Hyundai Sonatas, which they tool around town in with the windows rolled down thanks to the breathable air.

Life is getting better for the U.S. middle class despite mounting income inequality, thanks to improvements in technology and cars, according to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon. Slashing CEO pay wouldn’t help, he said. “It’s not right to say we’re worse off,” Dimon said Thursday at an event in Detroit. “If you go back 20 years ago, cars were worse, the air was worse. People didn’t have iPhones.”

So anyway, yeah, wealth disparity doesn't look great at the moment but if you're thinking of coming after JD's paycheck to solve the problem, back off jacko.

“It is true that income inequality has kind of gotten worse,” Dimon said, noting that he does want things to get better for low- and middle-class households. Still, “you can take the compensation of every CEO in America and make it zero and it wouldn’t put a dent into it. What really matters is growth.”

No further questions.

Dimon Says IPhones, Cars Help Balance Out U.S. Income Inequality [Bloomberg]


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