JPMorgan Chase CEO, Jamie Dimon, has warned that higher taxes will lead to a decrease in individual incomes and profits for companies. Dimon cited high costs as one of the firm's biggest challenges, compared to the 1970s when nearly half of the 125 Fortune 500 companies left New York. He stressed the economic impact of higher taxes on companies and individuals, not politics, but basic economics. The warning comes as newly elected Mayor Zohran Mamdani advocates for higher taxes, raising property taxes and increasing corporate tax rates.