Elizabeth Warren wants billionaires to pay for things because, well, I guess because the people she wants to vote for her aren’t billionaires.
She’s proposed a “wealth tax” on people in the over-$50-million club, in order to foot the bill for items such as universal healthcare and other people’s student loans.
Well, billionaire/longtime investor Leon Cooperman’s not impressed.
In September, Leon joked to CNBC that, if Elizabeth won the presidency, the stock market wouldn’t open. Later he said it’d open, just “a hell of a lot lower” — he predicted a 25% drop during her first year in office.
And to Politico last month, he said, “I believe in a progressive income tax and the rich paying more. But this is the f***ing American dream she is s****ing on.”
Elizabeth shot back with a tweet:
“Leon, you were able to succeed because of the opportunities this country gave you. Now why don’t you pitch in a bit more so everyone else has a chance at the American dream, too?”
That appeared to be the last straw for Leon.
He returned with a very long letter to Elizabeth, ripping into her like a kid opening his favorite toy on Christmas.
It included a bit of this goodness:
“You proceeded to admonish me (as if a parent chiding an ungrateful child) to ‘pitch in a bit more so everyone else has a chance at the American dream.’”
And:
“Your tweet demonstrated a fundamental misunderstanding of who I am, what I stand for, and why I think so many of your economic policy initiatives are misguided.”
He’s not into the ol’ class warfare gag:
“However much it resonates with your base, your 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.”
Back to Liz:
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. Leon can and should pitch in more—so that every kid has the same opportunities he did to succeed. https://t.co/38fJSXKKCJ
— Elizabeth Warren (@ewarren) October 31, 2019
On November 4th, again on CNBC he put it succinctly:
“What she’s peddling is bull.”
In (not quite as) short:
“I don’t need Elizabeth Warren, or the government, giving away my money. … She’s screwing around with the wrong guy. I wanted to give it all away. Not 50, 60 percent, I want to give it all away. But I want to control the decision.”
Sounds reasonable.
Warren was on the warpath:
I care about an entire generation of students being crushed by student loan debt—deferring their American dream because they can't afford it. I care about making sure every American has the opportunity to succeed. I'm not afraid to stand up to the wealthy and well-connected.
— Elizabeth Warren (@ewarren) November 5, 2019
Was Leon merely bolstering his side of the argument, or helping Elizabeth look cool to her “sock it to the rich” fans?
NEW: Billionaire Leon Cooperman has sent a critical letter to Elizabeth Warren, the latest shot in their war of words. He did the same to another politician in 2011: President Obama. https://t.co/i8WvdQIX5A
— Brian Schwartz (@schwartzbCNBC) October 31, 2019
Either way, Leon’s had it with Liz.
Here’s how CNBC described her recent campaign ad:
“The ad opens with Warren telling a campaign rally: ‘It is time for a wealth tax.’ The ad then plays clips of the [Leon Cooperman, former CEO of TD Ameritrade Joe Ricketts, former Goldman Sachs CEO Lloyd Blankfein and Silicon Valley investor Peter Thiel]. The part featuring Cooperman notes that the Omega Advisors CEO was charged with insider trading.”
— Warren Democrats (@TeamWarren) November 13, 2019
On Wednesday, Leon dropped the hammer:
“In my opinion, she represents the worst in politicians as she’s trying to demonize wealthy people because there are more poor people than wealthy people. As far as the accusations of insider trading, I won the case. She’s disgraceful. She doesn’t know who the f*** she’s tweeting.”
And then this:
“I gave away more in the year than she has in her whole f***ing lifetime.”
Leon doesn’t think the “B” word should be a bad word:
“What is wrong with billionaires? You can become a billionaire by developing products and services that people will pay for.”
Interesting point.
-ALEX
See 3 more pieces from me:
Mattel Releases a Gender Fluid Doll Playset for Kids – to ‘Encourage People to Think More Broadly’
Woman’s Boyfriend Shoots Her in the Head, but She Forgets for Almost Two Months so They Keep Dating
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