JPMorgan CEO Dimon: I'll pay more in individual taxes

WASHINGTON, Oct 10 (Reuters) - The chief executive ofJPMorgan Chase & Co , Jamie Dimon, waded into the U.S.fiscal debate on Wednesday when he said he was willing to pay ahigher individual tax rate while calling for lower corporatetaxes so U.S. business can compete in a global economy.

"I don't mind paying 39.6 percent in taxes," Dimon saidin an interview in Washington at the Council on ForeignRelations, backing the Democrats' position. He added he mightback an increase in the capital gains tax rate to 20 percent,another proposal by President Barack Obama.

Republicans want to extend low rates that expire on Dec. 31for all income groups, while Obama and Democrats want to extendthe lower rates only for households earning up to $250,000.

Dimon is one of several CEOs lobbying lawmakers to createmore certainty around tax and budget issues, as the UnitedStates faces a "fiscal cliff" of $600 billion in tax hikes andspending cuts should Congress fail to act by the end of theyear.

(Reporting By Kim Dixon; Editing by Sandra Maler)