Omega Advisors CEO Leon Cooperman argues Obama is creating class warfare and villanizing the wealthy.
Some highlights and the video are below:
Leon talks about his open letter to Obama, which we posted here.
When it comes to finding future business champions, Warren Buffett and Charlie Munger have really excelled over the past seven decades. Q3 2021 hedge fund letters, conferences and more One could argue that these two individuals are some of the best growth investors of all time, thanks to their ability to spot companies like Coca-Cola Read More
Leon does not understand what the tax rate should be. Says that it seems like Obama doesnt realize that rich already pay taxes.
Leon does not have a problem paying taxes, however, he has no idea what Obama has in mind.
He does not understand what Obama means by “fair share”, and is not arguing over rates, but rather over dialogue.
Leon states that he is not very political. This can be found by googling him. He wrote to the president because he was alarmed that Obama is creating class warfare , which is totally unnecessary right now.
He has no problem with the rich as himself paying more.
Leon was “shocked” that Obama demonized private aviation after the debt talks were over. It is one of the largest exports in the nation, and are mostly unionized.
His wife voted for Obama, because when “your married to a capitalist it is easy to be a socialist.” Leon is right now voting for ABO, Anybody but Obama.
Leon recognizes that the President did inherit a very difficult economy. Leon thinks that Former Senator Evan Bayh, had it right. Evan resigned because he had never seen a more dysfunctional political atmosphere. This is not the president’s fault.
Leon is in favor of stimulus and thinks its a shame that everyone is radical in Washington, so nothing useful will get passed.
The key issue is the TONE of the president.
He reads from a paper that talks about problems with classwarefare. Leon then says that the statement is from Abraham Lincoln, who Obama claims to admire.
Cooperman stresses that he is an independent who voted for Democrats in the past. He wants Obama to get rid of class warfare, and wants Obama to mention a specific tax rate.
Cooperman was in agreement with Warren Buffett when Buffett called for higher taxes on the wealthy, but pointed out that he already paid more then the rate Buffett called for.