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  1. #1
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    Billionaire investor on Elizabeth Warren as president: Market might not even open

    Billionaire investor on Elizabeth Warren as president: Market might not even open
    That’s Leon Cooperman, the billionaire boss at Omega Advisors, joking to a crowd at the Delivering Alpha conference in New York this week about what a win for the left could ultimately mean for investors.

    He wasn’t joking, however, in his belief that somebody like Elizabeth Warren in the White House would be disastrous for the stock market.

    “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,” he explained to CNBC, adding that the market, of course, will open, but it won’t be pretty.

    “It would be a bear market and they go on for a year and go down 25%,” he said. “You don’t make the poor people rich by making rich people poor.”

    Warren, who has proposed a wealth tax on assets above $50 million, has been climbing the polls in the packed Democratic presidential field, trailing only former Vice President Joe Biden in the latest NBC/WSJ tally.

    “Her policies are counterproductive,” Cooperman said. “They’re negative for capitalism, and capitalism is what brought America into the position we’re in today.”
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    She's awful.

    Breaking investment and commercial banking would put us right back to 2008.
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  3. #3
    Truth Teller Aesthetical's Avatar
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    Originally Posted by GreatOldOne View Post
    She's awful.

    Breaking investment and commercial banking would put us right back to 2008.
    Thats where we deserve to be. This fake economy needs to stop.
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    Cthulhu fhtagn GreatOldOne's Avatar
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    Originally Posted by Aesthetical View Post
    Thats where we deserve to be. This fake economy needs to stop.
    I wouldn't recommend it.

    I enjoy having my credit card work when I get gas and grocery shop.
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    Registered User semitope's Avatar
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    he talks because he wants to hold on to more. wont stop them getting richer and richer though. They aren't going to say "oh taxes are higher, its better for me to be poor"
    Is there no limit to what people will believe if it is prefaced by the phrase,
    "Scientists say" ?

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    Originally Posted by GreatOldOne View Post
    I wouldn't recommend it.

    I enjoy having my credit card work when I get gas and grocery shop.

    This. I have flown on 5 trips this year and haven’t paid a dime for those flights. Thank u Amex & thank u economy.


    Lol if you’re using debit in today’s world and not taking advantage of credit card perks.
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    Originally Posted by semitope View Post
    he talks because he wants to hold on to more. wont stop them getting richer and richer though. They aren't going to say "oh taxes are higher, its better for me to be poor"
    At the same time, historically and realistically speaking you can NOT create wealth by taxing the rich.

    Even if you tax the 1% at 100% rate the Democrats can not pay for a third of all the “free college, health care, and social programs” they are promising.

    Who do you think will get tax after the rich move their business and money overseas?

    Stop this deluded logical fallacy that the rich will pave the way for poor people to come out of poverty through taxation.
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  8. #8
    Registered User semitope's Avatar
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    Originally Posted by iabs View Post
    At the same time, historically and realistically speaking you can NOT create wealth by taxing the rich.

    Even if you tax the 1% at 100% rate the Democrats can not pay for a third of all the “free college, health care, and social programs” they are promising.

    Who do you think will get tax after the rich move their business and money overseas?

    Stop this deluded logical fallacy that the rich will pave the way for poor people to come out of poverty through taxation.
    false. Walmart and amazon created tons of wealth with employees on welfare.

    as i said, they aren't moving their businesses anywhere just off taxes. They do business overseas already but you really think they will pass up all the money to be made in the US over taxes? They aren't stupid. they are already avoiding taxes anyway.
    Is there no limit to what people will believe if it is prefaced by the phrase,
    "Scientists say" ?

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    Originally Posted by semitope View Post
    false. Walmart and amazon created tons of wealth with employees on welfare.
    source?
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    Originally Posted by Aesthetical View Post
    Thats where we deserve to be. This fake economy needs to stop.
    So now its trumps economy again? will it be obama's when its not 'fake' anymore?

    Embarrassing.
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  11. #11
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    Originally Posted by topperstyle View Post
    source?
    semigrope is a troll. I suspect that he intentionally posts bullshiit just to see the reaction.

    I mean, look at his avi. Who would do that?
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    Originally Posted by semitope View Post
    false. Walmart and amazon created tons of wealth with employees on welfare.
    Do you care to expand on this comment?
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    Wall Street already said they are backing trump is warren is the dem nominee
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    Originally Posted by 5x10 View Post
    Wall Street already said they are backing trump is warren is the dem nominee
    That was amazing to hear.
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    Originally Posted by iabs View Post
    Do you care to expand on this comment?
    Basically, they fully inform their employees what government benefits are available to them for their situation.

    This theoretically acts as a subsidy for their labor.

    Never mind that Walmart pays more than their direct competition.
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    Originally Posted by Austanian View Post
    Basically, they fully inform their employees what government benefits are available to them for their situation.

    This theoretically acts as a subsidy for their labor.

    Never mind that Walmart pays more than their direct competition.
    And how does informing their employees that they can collect welfare “creates wealth”???
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    Originally Posted by topperstyle View Post
    source?
    Originally Posted by iabs View Post
    Do you care to expand on this comment?


    truth is, government does a lot for companies. Which company builds out its own city infrastructure for example? But the idea is that they should simply take these benefits and horde the profits? Some people don't want them taxed at all yet their employees end up on government programs.
    Is there no limit to what people will believe if it is prefaced by the phrase,
    "Scientists say" ?

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    Originally Posted by iabs View Post
    Do you care to expand on this comment?
    There is a report created by a labor group in Wisconsin that used Wisconsin date for medicaid enrollment and extrapolated that to the country and all other assistance programs. The report has a few problems.

    1. We don't have real national data
    2. We don't have enrollment data correlation for other programs
    3. Wisconsin supposedly has a larger medicaid program than is typical.

    However I do think it's still sufficient to make a strong estimate because.

    1. We do know the enrollment numbers for the program and it's reasonable to assume users of other programmer would be proportionally represented in other programs and other states. Therefore it is reasonable to argue that walmart and amazon employees do receive government benefits.

    However I don't think it's fair to argue Walmart or Amazon as the culprit for this.

    1. They are among the largest employers in the country in the retail space.
    2. The retail space requires the lowest skill level
    3. The retail space encourages the employment of people with disabilities and elderly folks.
    4. The retail space is a great entry point for teen workers to gain valuable low risk experience.

    Amazon and Walmart are only big because we want them to be big.

    1. We buy our products from our preferred providers and those are the two biggest ones.
    2. The companies greatly assist poor, disabled and elderly people with low product costs.

    Amazon and Walmart will always adapt to market forces. The consumer driven economy is controlled solely by the consumers. Just like our government is controlled by the voters.

    FWIW Walmart took great care of one my cousins through all his health issues and took care of his funeral too.

    Our country has issues, but I don't think jacking up taxes on the wealthy promotes innovation. I don't mind taxing hoarders, but investors fund the startups that become the Facebooks, Amazons, Bodybuilding.coms and Walmarts.
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    Good I wouldn't mind a major 25% correction in the market. I would buy up things on discount.
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    Originally Posted by semitope View Post


    truth is, government does a lot for companies. Which company builds out its own city infrastructure for example? But the idea is that they should simply take these benefits and horde the profits? Some people don't want them taxed at all yet their employees end up on government programs.
    this is your source?

    https://newfoodeconomy.org/ ?
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    IDDQD Austanian's Avatar
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    Originally Posted by semitope View Post
    [img]https://newfoodeconomy.org/wp-content/uploads/2018/04/SNAP-enrollees-647x1024.png[/img

    truth is, government does a lot for companies. Which company builds out its own city infrastructure for example? But the idea is that they should simply take these benefits and horde the profits? Some people don't want them taxed at all yet their employees end up on government programs.
    You realize walmart has incredibly low operating margins... right?

    They make more profits because they do more business. Not because they are scamming the system.
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    Originally Posted by topperstyle View Post
    this is your source?

    https://newfoodeconomy.org/ ?
    He failed to read the bottom right which makes the entire pic based on false statistics.

    Lower population states

    Source no one has ever seen before

    ..... wtf.
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    Originally Posted by JUSA View Post
    Why does the market seem to think a President Warren would be a Dictator Warren? Not a fan of her, but the markets crashing like that seems hyperbolic.
    Warren says she wants to curb spiraling inequality in the United States and make the rich pay. Taking money from the rich will not improve or make more money for the poor.

    Her proposals of Wealth Tax, a Federal Wealth Tax on a handful of U.S. households with the highest net worth, more corporate regulation, more corporate taxes, all to pay for social programs such as the Green New Deal and Medicare for All. This is what Europe has been doing and why Europe is in recession.

    Why should successful people be penalized? Why should people who aspire to be successful entrepreneurs fear becoming successful because they know they will be penalized by taxes and jeered at for their accomplishments and efforts? Her and Bernie's plans are not the American Dream - it is America's destruction.

    2020 will now be Capitalism vs Socialism.
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    Originally Posted by iabs View Post
    And how does informing their employees that they can collect welfare “creates wealth”???
    Great question.



    So here is a graph where we have two workers. One works 32 hours per week. One works 40 hours per week.

    IF someone is earning less than $2000 a month they qualify for $500 in snap benefits. (Amounts are simplified, but the programs work this way.)

    What you see is a PAY BUMP, from $11 to $12 actually results in a person earning less per month. To make matters worse someone working 40 hours per week ends up making LESS than someone working 32 hours per week if they are earning between $12 and $14 per hour.

    What you can do is hire a person that has a market value of $13 per hour at $11 per hour because the person earning $11 is making more than the person earning $13.
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    Originally Posted by Mark1T View Post
    Warren says she wants to curb spiraling inequality in the United States and make the rich pay. Taking money from the rich will not improve or make more money for the poor.

    Her proposals of Wealth Tax, a Federal Wealth Tax on a handful of U.S. households with the highest net worth, more corporate regulation, more corporate taxes, all to pay for social programs such as the Green New Deal and Medicare for All. This is what Europe has been doing and why Europe is in recession.

    Why should successful people be penalized? Why should people who aspire to be successful entrepreneurs fear becoming successful because they know they will be penalized by taxes and jeered at for their accomplishments and efforts? Her and Bernie's plans are not the American Dream - it is America's destruction.

    2020 will now be Capitalism vs Socialism.
    Quality of life for the average American has been dropping for the last 50 or so years. But surely the wealth will start trickling down any second now boyo.


    P.S.

    The American Dream has its roots in pure socialism

    https://en.wikipedia.org/wiki/Homestead_Acts
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    Originally Posted by randombrah102 View Post
    Quality of life for the average American has been dropping for the last 50 or so years. But surely the wealth will start trickling down any second now boyo.


    P.S.

    The American Dream has its roots in pure socialism

    https://en.wikipedia.org/wiki/Homestead_Acts
    That was conquest not socialism.
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    Originally Posted by Austanian View Post
    That was conquest not socialism.
    Yes, the US military which is purely funded through tax payer money ran the Native Americans out of their land and then gave that land out for free.

    A policy doesn't really get more socialist than that.
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    Originally Posted by randombrah102 View Post
    Quality of life for the average American has been dropping for the last 50 or so years.
    Speak for yourself, boyo.
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