Andrew Harrer/Bloomberg © 2015 Bloomberg Finance LP: As tensions rise between Wall Street and progressive 2020 candidate Elizabeth Warren, billionaire hedge fund founder Leon Cooperman criticized Warren in a five page letter Wednesday that defends the ultra-rich and rips into Warren’s proposed wealth tax, her signature policy proposal.
In the letter, Cooperman touted his own humble beginnings and philanthropy work, saying that many billionaires—including Home Depot founders Ken Langone, Bernie Marcus and Arthur Blank, along with the former New York City mayor Michael Bloomberg—are self made, and work hard to provide jobs to “tax paying workers.”
He said that Warren’s “vilification of the rich is misguided, ignoring, among other things, the sources of their wealth and the substantial contributions to society which they already; unprompted by you, make.”who pointed out that other developing nations have abandoned the idea of a wealth tax because, they argue, it is difficult to enforce, hard to administer and ultimately ineffective.
He also made an argument that Warren’s advisers—University of California, Berkeley economists Emmanuel Saez and Gabriel Zucman—understate how much the rich pay in taxes and overstate how much the poor pay because they focus on gross, not net, taxes.that “Leon is wrong. I'm fighting for big changes like universal child care, investing in public schools, and free public college. We can do all of that with a #TwoCentWealthTax.
Good for him!
rachsandl Oh no, a hedge fund manager has criticized a wealth tax proposal! Sounds totally unbiased. Everyone knows hedge fund managers are notable for their transparency, adherence to SEC rules & regs, and their willingness to pay their fair share of taxes.
rachsandl Ok, so tell Wall Street to stop donating to the D Party.
rachsandl Wealth tax is forcing 12,000 millionaires PER YEAR out of France via MailOnline
rachsandl They tried that in France, and wealthy left - not good for the country, these are Marxist policies 👇 10,000 millionaires left France last year - CNNMoney
rachsandl The majority of Americans want the tax cheating loopholes exploited by elites closed. We want the rich to pay their fair share.
rachsandl Shocking. The elite hate that wealth distribution and taxing per capita nonsense. I mean, we’d hate to stop their loop holes, tax breaks, and nearly 50% tax refunds (see Kanye’s income vs refund last year)
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Billionaire Leon Cooperman To Elizabeth Warren: ‘Your Vilification Of The Rich Is Misguided’There are no honest billionaires. They all pulled strings, broke laws, bribed (lobbies) to get what they wanted. I don't care for the vilification of the rich....or the poor....or immigrants. But it is VERY difficult for MANY people working very hard and living pay check to pay check. What are the ultra rich doing about it besides making more $ and moving it to favorable tax havens? Earning your riches.. i.e. “investing in real estate,” which is really just buying tons of properties in emerging markets and driving up housing prices. We’re tired of the disparity, and the power you enjoy because of it. I’ll be voting for the tax. ✅
Source: Forbes - 🏆 394. / 53 Read more »
'A parent chiding an ungrateful child': Billionaire Leon Cooperman steps up wealth-tax spat with democratic candidate Elizabeth WarrenThe founder of Omega Advisors previously said the stock market would crash 25% if Warren or Bernie Sanders were elected president. 'Insider Trading' Cooperman is now our moral arbiter. If he wants to take the moral high ground, I’d like to know how much income tax he paid last year. It must be the way she was raised as an American Indian.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Billionaire Leon Cooperman sends a critical letter to Elizabeth Warren, the latest shot in their war of wordsAllies of Leon Cooperman have privately warned him that an effort like this would only embolden Elizabeth Warren's argument that she successfully battles the rich. LOL Why wouldn’t billionaires love republicans. They donate 50000 dollars to Trump and save 500000 on taxes. That’s why it’s called the GOPTAXSCAM tax cuts for billionaires. I’m envious. I donated 20 dollars and ended up paying more Cooperman is one of the lonely voices of good sense on the Street. the billionaire-dunces of Sil. Valley & Wall St deserve the attacks of Warren, the Squad, the mob. if the new inquisitors (that they support) attack their wealth, they’ll quickly flee the chaos that they unleashed
Source: CNBC - 🏆 12. / 72 Read more »
Leon Cooperman rips Elizabeth Warren in new letter for 'soak-the-rich positions,' and treating him like 'an ungrateful child'Allies of Leon Cooperman have privately warned him that an effort like this would only embolden Elizabeth Warren's argument that she successfully battles the rich. Look at this geyser. Why isn’t Leon Cooperman in jail? His own son turned him in. carlquintanilla I actually like this. Let them talk to each other and may be see a little bit of each other's viewpoint. Face to face.
Source: CNBC - 🏆 12. / 72 Read more »
Billionaire Leon Cooperman To Elizabeth Warren: ‘Your Vilification Of The Rich Is Misguided’There are no honest billionaires. They all pulled strings, broke laws, bribed (lobbies) to get what they wanted. I don't care for the vilification of the rich....or the poor....or immigrants. But it is VERY difficult for MANY people working very hard and living pay check to pay check. What are the ultra rich doing about it besides making more $ and moving it to favorable tax havens? Earning your riches.. i.e. “investing in real estate,” which is really just buying tons of properties in emerging markets and driving up housing prices. We’re tired of the disparity, and the power you enjoy because of it. I’ll be voting for the tax. ✅
Source: Forbes - 🏆 394. / 53 Read more »
Leon Cooperman rips Elizabeth Warren in new letter for 'soak-the-rich positions,' and treating him like 'an ungrateful child'Allies of Leon Cooperman have privately warned him that an effort like this would only embolden Elizabeth Warren's argument that she successfully battles the rich. Look at this geyser. Why isn’t Leon Cooperman in jail? His own son turned him in. carlquintanilla I actually like this. Let them talk to each other and may be see a little bit of each other's viewpoint. Face to face.
Source: CNBC - 🏆 12. / 72 Read more »