J. P. Morgan Chase CEO Jamie Dimon has "no problem" paying higher taxes, as long as government spends that money wisely.

In a statement to CNBC, Dimon said "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."

He added, "However, we need to ensure that our tax dollars are going where they can be most effective — like expanding the earned income tax credit and other programs that support the people and communities who really need it."

The comments come amid a debate about whether the wealthiest Americans should shoulder higher taxes, a proposal supported by newly elected Rep. Alexandria Ocasio-Cortez of New York and established Sen. Elizabeth Warren of Massachusetts, both Democrats.