In a recent interview with CNN, billionaire Leon Cooperman choked up, visibly upset as he talked about the future he envisioned for his vast fortune and the havoc he imagines a wealth tax, like those proposed by Elizabeth Warren and Bernie Sanders, would wreak on his plans. He characterizes her proposal as “socially and morally bankrupt” and complains, echoing Chase CEO Jamie Dimon, that Warren has been engaging in the “vilification” of billionaires.
To perhaps an unprecedented degree in the United States, we are witnessing an increasingly serious debate playing out about the relative merits of capitalism and socialism.
Jamie Dimon, chief executive officer of JPMorgan Chase & Co, on Wednesday said he expects to see a new U.S. president in 2021 and advised the Democratic party to come up with a "pro-free enterprise" agenda for jobs and economic growth instead.
We have come to serve the economy rather than the economy serving us. We ask people to suffer to save the system that produces suffering, instead of creating a system that seeks to eliminate suffering.
Senator Sanders explained in a few seconds why, in the wake of JP Morgan’s Jamie Dimon’s preschool gambling, the banks need to be broken up and regulated.