JPMorgan Chase CEO Jamie Dimon warns of business exodus from NYC as Mamdani, lefty pols push for tax hikes

JPMorgan Chase CEO Jamie Dimon took a swing at New York City Mayor Zohran Mamdani’s far-left policy proposals on Monday, saying crushing taxes and red tape are already sparking a “large exodus” of businesses out of the Big Apple.In his annual letter to shareholders, the 70-year-old Queens native stressed Gotham faces stiff competition from other financial centers both in the US and abroad, suggesting that the hard-left Hizzoner’s tax-and-spend policies would do nothing to help swell City Hall’s coffers.“Cities — like individuals, companies, and countries — need to compete,” Dimon wrote, “No matter who you are, you need to deal with reality and the truth.“The truth is that while New York City has much going for it, particularly for financial companies (because of extraordinary local talent), it also has the highest city and state corporate taxes and the highest individual income and state taxes,” the Wall Street veteran continued.“People often make this a moral or loyalty issue, but it is not,” he added.While he stopping short of mentioning Mamdani by name in his annual letter, Dimon has previously taken the pol to task.“This guy just got elected – he’s more of a Marxist than a socialist, and now you see these Democrats falling all over themselves saying, ‘Well, he’s pointing out some real problems, affordable housing and grocery prices,’” Dimon said after Mamdani’s upset Democratic primary win last summer.Mamdani pushes “the same ideological mush that means nothing in the real world,” the exec added.After winning office last year on campaign promises to “tax the rich,” the democratic socialist mayor has been pushing a menu of tax hikes — including increasing New York’s corporate rate from 7.25% to 11.5% and slapping a 2% personal income tax increase on anyone raking in more than $1 million a year.Democratic New York Gov.Kathy Hochul would have to approve any fiscal blueprint proposed by Mamdani, who says hikes...