Billionaire Leon Cooperman slams Elizabeth Warren's wealth tax, suggests eliminating the Education

[Yo_Mama_Been_Loggin]

Billionaire Leon Cooperman has lodged yet another entry in his ongoing back-and-forth with Sen. Elizabeth Warren over a wealth tax. He added a new wrinkle to it today: Eliminating the Department of Education instead, saying the country doesn't need to progress in that area anymore.

In a CNBC interview on Friday, Cooperman again criticized Warren and her chief policy item. The war of words between the two stretches back years. Most recently, Warren invited Cooperman to testify in a Senate Finance hearing on taxes, and after Cooperman declined, the Massachusetts senator accused him of being "too frightened" to appear. (Pro-wealth tax millionaire Abigail Disney testified instead.

"I do believe in the progressive income tax structure; I do believe rich people should pay more," Cooperman told CNBC's Squawk Box, before adding, "the wealth tax makes no sense to me, for lots of reasons." He noted that wealth taxes have been eliminated in almost all countries where they've been introduced.

Under Warren's Ultra-Millionaire Tax Act, households with a net worth between $50 million to $1 billion would see a 2% tax, while those holding over $1 billion would see a 3% tax.

https://www.msn.com/en-us/money/markets/billionaire-leon-cooperman-slams-elizabeth-warrens-wealth-tax-again-suggests-eliminating-the-education-department-instead/ar-BB1ge9bt

He hopes by keeping people stupid they won't cause trouble for vulture capitalists like himself.

[brooklynite]

1. My wife works for President Biden's Treasury Dept; nobody thinks this a wealth tax ever happen

[Irish_Dem]

3. Biden is doing things people didn't believe could happen. Let's see what happens.

Right now I am standing back in amazement.

[Irish_Dem]

2. They want us ignorant. It makes it easier for them to con us.

We buy their propaganda hook, line and sinker.

[Midnight Writer]

4. We Americans need to do with less so Billionaires can accumulate more excess riches.

[Cuthbert Allgood]

5. I believe in progressive tax structure but don't want a tax that hits the rich.

Perhaps you don't know what progressive tax structures are.

[CrispyQ]

6. The right hates public education.

"As people do better, they start voting like Republicans - unless they have too much education and vote Democratic, which proves there can be too much of a good thing." ~Karl Rove

[LT Barclay]

7. Why does the media bother with the opinions of a billionaire?

Maybe listen to an alcoholic about DWI laws?
A hog on diet plans?
A lumber company on forest conservation?
Etc.

[Laura PourMeADrink]

8. I saw a lot of the interview and parts I liked. He is super into donating

money to causes. He said it makes him feel really good. He doesn't care about material possessions. And doesn't believe in passing out wealth that hasn't been earned to children.

Did he say why he didn't think well tax was a good idea. I didn't see it in the article. Just curious. He made it perfectly clear that he didn't want to give away his wealth to the government.

[tirebiter]

9. Put an end date on any wealth tax

For a payfor on the pandemic. Then reestabish progressive taxation circa the Ike or JFK/LBJ era. We need a liberal/conservative discussion without the neo version of either,