Elizabeth Warren was sorely mistaken if she thought she could get away with attacking prominent billionaires without repercussions, she was sorely mistaken.
After flipping out on Warren Wednesday night for not knowing “who the f**k she’s tweeting,” billionaire investor Leon Cooperman told CNBC’s ‘Halftime Report’ on Thursday that Warren’s proposed wealth tax “makes no sense,” adding “It would lead to unnatural acts, be near impossible to police, and is probably unconstitutional… it will make the wealthy flock to gold in order to hide their wealth, like you wouldn’t believe.”
“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,” said Cooperman, adding “if this lady wins, we’re in big trouble.“
“How can a college professor and politician gain an $18mm net worth?” he also asked.
Oh my!! Lee Cooperman goes all in–Hyman Roth!!!!
— Jim Cramer (@jimcramer) November 14, 2019
Cooperman was joined in his criticism by Goldman Sachs CEO Lloyd Blankfein, who was also featured in the Massachusetts Senator’s ad.
“Surprised to be featured in Sen Warren’s campaign ad, given the many severe critics she has out there,” Blankfein tweeted on Thursday. “Not my candidate, but we align on many issues. Vilification of people as a member of a group may be good for her campaign, not the country. Maybe tribalism is just in her DNA.”
Surprised to be featured in Sen Warren’s campaign ad, given the many severe critics she has out there. Not my candidate, but we align on many issues. Vilification of people as a member of a group may be good for her campaign, not the country. Maybe tribalism is just in her DNA.
— Lloyd Blankfein (@lloydblankfein) November 14, 2019
Warren’s proposal would levy a 2% tax on household net worth over $50 million and a 6% tax on those with over $1 billion.
Cooperman says he will support fellow billionaire Mike Bloomberg if he formally enters the 2020 race and maintains moderate policy positions, according to CNBC.
The son of a Bronx plumber who became one of Wall Street’s most successful investors, Copperman started the Omega Advisors hedge fund in 1991. Last year, he returned outside investor money and converted Omega into a family office. His net-worth is estimated at more than $3 billion. Prior to starting Omega, he spent 25 years at Goldman Sachs.
Cooperman has also been a major philanthropist. He has signed The Giving Pledge, created by Bill Gates and his wife Melinda Gates and Warren Buffett. The Giving Pledge invites the ultra-wealthy to give away more than half of their fortunes to help society. –CNBC
Watch Warren’s ad below: