Billionaire Ex-Goldman Sachs Executive Blasts Elizabeth Warren: 'This Is the F***ing American Dream She Is S***ting On'

Newsweek Politics 3 weeks ago

A billionaire has accused Sen. Elizabeth Warren of "s***ting on" the American dream with her policy platform, which includes breaking up big banks and tech companies, as well as higher taxes on the wealthiest households and corporations.

Warren is one of the leading candidates for the Democratic Party's 2020 nomination. She has built her campaign on a commitment to rebuild the American middle class with big reforms to Wall Street and taxation, though she maintains she is a capitalist "to my bones."

"What is wrong with billionaires?" Leon Cooperman, a former Goldman Sachs executive who now runs the investment firm Omega Advisors, told Politico. "You can become a billionaire by developing products and services that people will pay for.

"I believe in a progressive income tax and the rich paying more. But this is the f**king American Dream she is s**tting on."

According to Politico, Cooperman believes a Warren presidency will send stock markets tumbling by 25 percent. Forbes puts Cooperman's net worth at $3.2 billion.

Among Warren's specific policies is what she calls The Ultra-Millionaire Tax, levied on the 75,000—or 0.1 percent of—households with a net worth of over $50 million. There would be a 2 percent tax on every dollar over $50 million and 3 percent over $1 billion.

The Warren campaign claims that this would bring in $2.75 trillion in revenue over a 10-year period.

"My question is not why do Bernie [Sanders] and I support a wealth tax," Warren said a recent Democratic debate. "It's why is it does everyone else on this stage think it is more important to protect billionaires than it is to invest in an entire generation of Americans."

It is not the first time Cooperman has blasted Warren. Last week on CNBC's Squawk Box, Cooperman called her wealth tax "baloney."

"I believe in a progressive income tax structure. I believe rich people should pay more—I have no problem with that. This wealth tax is baloney," Cooperman said on Squawk Box.

"Education and faster economic growth is the answer. At the end of the day, capitalism is what distinguishes America...You don't make the poor people rich by making rich people poor. The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left."

Warren's campaign did not respond immediately to Newsweek's request for comment.

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