GOOD FOR THE GANDER

“I won’t go into a lot of detail but will list only some key concerns: the long-term fiscal and tax issues (driven mostly by healthcare and Social Security costs, as well as… “Jamie Dimon.

James “Jamie” Dimon is an American business executive, the good looking one in the picture. He is chairman, president and chief executive officer of JPMorgan Chase, largest of the Big Four American banks, and previously served on the Board. March 13, 1956 (age 63), NYC, NY.

March THIRTEENTH the Day of FATEFUL PREDICTION: Those born on March 13 lead fateful lives, which in retrospect could be said to have turned around a few chance happenings. Most individuals born on this day strongly believe in predetermined occurrences, moreover, and are prone to making predictions about the world and the lives of others. There is something of the oracular about much of what March 13 people say. They often utter their analyses of the world and its problems with a kind of knowing finality.

Jamie is the Big Man on Wall Street and when he says that there is a big problem with the unfunded liabilities of Social Security and Medicare/Medicaid you best believe him. Jamie’s total compensation for 2016 is $23 million with a base salary of $1.5 million. JPMorgan and Jamie pay Social Security tax only on the first $118,000 due to the earnings cap.

Maximum Taxable Earnings:  2015 2016
Social Security (OASDI only): 15.3% $118,500 $118,500*

Medicare (HI only) 2.9%

N o   L i m i t

What’s good for the goose is good for the gander Jamie and JP should pay 1.500,000 x 15.3% = $229,500 in payroll taxes just like us regular geese.

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