Bobby Burack
Videos by OutKick
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.
His comments about half way through of people moving UP the risk curve are fascinating and more than a little scary.
He’s right about the “fair share” thing. 86% of federal income taxes are collected from just 25% of the population. To then go around and say that we need to take more from that 25% because “they’re not paying their fair share” is just ridiculous. It’s tantamount to saying freedom is slavery.
It’s a side-effect of the participation-trophy era. We now have entire generations of people who think they deserve free food, housing, healthcare, and internet just for existing.
What do you expect when you see parasitic politicians and gov workers making way too much money for what they bring to the table. Fauci making 450k??? Really. What does he create? Nothing.
I completely agree. I get furious every time some posts about the rich paying their fair share. My husband has worked his ass off for nearly 30 years, we pay a butt load in taxes, and yet somehow, we should be punished even more. I HATE class warfare and the marxists are so damned good at it.
Agreed. Add on ad valorem taxes like personal property and real property and the amount of taxes paid by the top 25% of earners is ridiculous. Especially those that happen to live in a blue state, yikes.
You know who’s not paying their fair share? Politicians and incompetent officials that are paid way too much to tank the country and get rich while doing so. Parasites!!
Fauci makes 450k?? I knew there were parasites in government but didn’t know Fauci made that much. Then these elite and corrupt politicians try to divert our attention from their corruption by claiming Trump and his 75million voters are racist. Yeah, that’s the reason Trump got 75million votes, because we are a racist country. It has nothing to do with people being sick of the corrupt Dems and Republicans, they tell us. What a joke it all is.
He makes total sense, and speaks the truth as we build bubbles with Zero interest rates.
It’s hard to feel sorry for any person, be it business executives to athletes to music and movie entertainers, that are in the 1% income bracket. Kudos to those that made it through hard work, but if you’re making enough that money is no object to do anything, than don’t get pissed if some people found a loophole or a way to circumvent the system. If they do it illegally, eventually they’ll get caught, but stop whining.
He’s entitle to his opinion….
WTF was that all about/ Are you related? I’m entitled to mine also……DTM
Did u hear bill ackmans doomsday rant in March on CNBC when he talked about the end of the world because of COVID. Never called on it yet he was short the market and made billions. Had a public forum and nobody said a word about it.
Basically, this assclown wants to make hedge funds invulnerable to loss while locking out everyone who doesn’t have enough money to be invited into these funds from profiting from investing. How dare someone without a yacht and a chalet in Aspen use the market the way it was intended!
The fact that the Feds are looking into people who are not on Wall Street to see if they manipulated the market unfairly is the biggest joke of them all.
As Dan Bongino said today, the elites hate you (us).
Quasi Capitalism
Like
Quasi Free and Fair Elections
Or Quasi Free Speech
Or Quasi Constitutional Republic
Liberal game for them to appear to be those things to the unwashed masses but really benefit only the Oligarchy and the Ruling Government Class.
Say what ever you want about the GameStop stock surge; the ‘wealthy’ DO pay more in taxes, not an opinion, just the facts. Remember Charles Barkleys take on the vaccine? Give it to the professional athletes FIRST (i.e., the wealthy……), BECAUSE they pay such high taxes. Not opinion, just the facts…no reason to get up noisy over another guys paying higher taxes than you.
Anyone who voted for Trump saw this coming. Biden’s social and economic policies are a wrecking ball to freedom of any kind.