Market Watch: Opinion: Why a surtax on multimillionaires’ income is better than a wealth tax

By Chuck Collins

Some business leaders may be concerned about some of the tax proposals being floated by Democratic candidates for president. But plenty of them — from JPMorgan Chase JPM, +0.12%  CEO Jamie Dimon to Starbucks SBUX, -0.02%   founder Howard Schultz — agree that it’s time for wealthy people like them to pay more.

“I believe that individuals earning the most can afford to pay more, and I have no problem paying higher taxes to address some of the fundamental challenges and inequities in our society,” the billionaire banker Dimon told Fox Business.

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