The billionaires are angry. Not because their gardeners are slacking, though maybe they are, but because some users on Reddit are disrupting Wall Street with a video game company.
Thursday, Leon Cooperman, the billionaire CEO of Omega Advisors, laid into the supposedly lazy people at home getting checks from the government off his taxes. On CNBC’s Fast Money, Cooperman got serious about the GameStop stock surge and revealed he has had enough with the attacks on wealthy people.
Cooperman then ripped into President Joe Biden’s idea of possible capital gains tax hikes. Cooperman calls the idea of fair taxes “bullshit”:
“I hate that expression with a passion,” Cooperman yells. “What does fair share mean? … I’m willing to work six months a year for the government, and six months for myself — which means a marginal tax rate of 50 percent. If you live in California, Connecticut, New Jersey, New York, you’re already well past that. This fair share is a bullshit concept. It’s just a way of attacking wealthy people.”
Enjoy the full segment. It is good:
Incredible CNBC moment about GameStop – billionaire hedge fund manager Leon Cooperman trashes the “people sitting at home getting checks from the government” trading, and says “fair share is a bullshit concept… It’s just a way of attacking wealthy people. It’s inappropriate.” pic.twitter.com/Yy73WpM9wN
— Steve Krakauer (@SteveKrak) January 28, 2021
To be clear, he is not calling these scrubs “stupid.” He is saying it is inappropriate to mess around with rich guys, like himself.
The best part is watching Cooperman go from really mad, to long rants about stocks, to really mad again.
Finally, Cooperman proudly said this is a “loser’s game” that will “end in tears” because people have no idea what they’re doing. Though the statement was said with confidence, his facial expressions showed real fear, like a guy on Call of Duty predicting his online opponent’s night will end in death, Xbox Live death.
Nevertheless, I’ll be rooting for Leon Cooperman and his accountant come tax season.