- A billionaire investor complains that the super-rich are being relentlessly attacked “for no reason” and there is “no sympathy” for billionaires anymore.
- Leon Cooperman, a man with an estimated net worth of around $2.5 billion, called the original proposals by lawmakers to tax billionaires “baloney.”
- When Dems proposed the billionaire’s tax in the White House’s original spending plan, Mr. Cooperman said about the tax, “There’s no sympathy for billionaires.”
“A billionaire investor has complained that the ultra-wealthy are being attacked “for no reason” and that there is “no sympathy” for America’s richest people.
Leon Cooperman, who is worth an estimated $2.5bn, says that original proposals by lawmakers to tax billionaires in Joe Biden’s spending package was “baloney”.
Mr Cooperman has been a vocal critic of the kind of wealth tax proposed by the likes of Senator Elizabeth Warren, that has now been removed from the $1.75 trillion proposal.
“I believe in a progressive income-tax structure, and that rich people should pay, and do pay, more in taxes,” the veteran hedge fund manager told Insider.
“We, however, don’t need new forms of taxation. Get rid of the loopholes. It’s unbelievable.They’re attacking billionaires for no reason.”
Democrats had proposed the billionaire’s tax in the White House’s original spending plan, but as the proposal shrunk from $3.5 trillion to $1.75 trillion it was scuttled.
“There’s no sympathy for billionaires,” Mr Cooperman added…”
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