Wall Street billionaire Leon Cooperman can’t figure out why Sen. Elizabeth Warren needs to “villainize” the wealthy.
The Omega Advisors CEO blasted the Massachusetts Democrat and 2020 presidential candidate for her policy plans and attacks against rich people during an interview with CNN’s Erin Burnett on Monday.
(Video: CNN)
“What is the purpose of vilifying successful people that have done well for society? I don’t get it,” Cooperman said on “Erin Burnett OutFront” after slamming Warren as a “politician in the worst sense of the word.”
“She can say that wealthy people should pay more in taxes. I happen to agree with that,” he added. “They should be paying more and they are paying more. If they want to raise the taxes on the wealthy, that’s fine. I have no problem with that. But the wealth tax is a stillborn idea.”
Asked last week why he has been vocal about his criticism of Warren, Cooperman emotionally told Scott Wapner on CNBC’s “Halftime Report” that he has been vocal about the 2020 race because, “I care.”
“I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats,” he said. “The vilification of billionaires makes no sense to me. The world is a substantially better place because of Bill Gates, Michael Bloomberg, David Rubenstein, Bernie Marcus, Ken Langone.”
“I don’t need Elizabeth Warren or the government giving away my money.” Here’s why Leon Cooperman said Sen. Warren’s wealth tax plan is “morally wrong.” https://t.co/WzkhYLSI7U pic.twitter.com/EaeclCAivh
— CNBC (@CNBC) November 5, 2019
Warren mocked Cooperman in a tweet saying he only cared about “his fortune.”
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
The 2020 hopeful has also targeted former New York City Mayor Michael Bloomberg and mockingly assured Microsoft founder Bill Gates last week that her proposed wealth tax is not as bad as it seems.
Elizabeth Warren pushes billionaire Bill Gates to his limit: I’ve paid more taxes than anyone https://t.co/Ledad61g7h
— Conservative News (@BIZPACReview) November 7, 2019
Gates explained at a New York Times/Deal Book conference last week that, while he is not against paying taxes, he is not sure Warren’s idea of a wealth tax on net worth is something he could stand behind, even if it means not endorsing her against President Trump.
Burnett asked Cooperman about Warren’s attacks on Monday.
“I’m not crying over my personal income tax liability. I’m distressed over the dialogue,” he responded. “Why villainize wealthy people? Bill Gates has done a lot for society. David Rubenstein has done a lot for society. Jeff Bezos has done a lot for society. They should be complimented, not criticized. The wealth tax makes no sense!”
He also explained his emotional moment during the CNBC interview last week as he railed against Warren again.
Billionaire Leon Cooperman wasn’t crying over @ewarren Warren’s wealth tax, as as many suggest. He was crying over a divided country, name-calling and Trump: “His deportment is not Presidential, we need a unifier because the country is being torn apart.” pic.twitter.com/9Fx36KpWcG
— Robert Frank (@robtfrank) November 4, 2019
“I was emotional because I was talking about family. No, no, no, no, no. You don’t get it. Excuse me. I apologize. I get emotional when I talk about my family. I don’t want to go down that path. Something to do with my family and I got emotional.”
Warren has claimed that her “ultra-millionaire tax” will bring in enough revenue to cover “universal child care for every baby, zero to five, universal pre-K, universal college and knock back the student loan burden for 95 percent of our students.”
Warren’s socialistic economic policy proposals are also reportedly giving Wall Street donors some concern, which is playing out in their reluctance to donate to Democratic Senate candidates.
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Frieda@bizpacreview.com
Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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