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Billionaire liang cooperman says the stock market would drop 25% if elizabeth warren is elected president of the united states i want to go ahead and talk about this guys i want to talk about what liang cooperman said and why he thinks the stock market would drop so much and i want to talk about kind of my opinion on his opinion and i’m going to talk about if i think
The stock market would drop 25% if elizabeth warren is elected president of the united states okay quote if elizabeth warren is elected president in my opinion the market drops 25% and cooperman told cmb squawk box bernie sanders same things so first off he’s not just saying elizabeth warren he’s saying elizabeth warren or bernie sanders if either elizabeth warren
Or bernie sanders gets into office the stock market is gonna drop 25% which keep in mind the stock market was to drop 25% that means many stocks out there would drop far further than 25% okay it would be pretty ugly okay warren has risen in some recent polls to the top of the crowded democratic field which i that field was rigged ridiculous as so many individuals in
There it’s insane her wealth tax has become a rallying force it calls for an annual 2% tax on wealth over 50 million dollars and 3% on wealth over 1 billion dollars taxpayers would be expected to estimate the current value of everything from cars to real estate to art private equity portfolios and private businesses okay this is crazy this wealth tax is absolutely
Crazy and it might sound really really cool until like you start to realize like sucesso who the most of the same thing ever okay what warren does not understand okay is number one most people that are in the super-rich okay the people that have 50 million plus dollars they don’t just have massive loads of cash sitting around okay they didn’t get massively rich
Because they had massive loads of cash sitting around i can promise you that okay they actually have very little liquid money sitting around their wealth is tied up in real estate it’s tied up in stocks is tied up in bonds or jewelry and being that their wealth is tied up in these type of prod math selling would need to happen every single year just to pay for
The tax so imagine you have a net worth of a hundred million dollars okay and you have to pay this two or three percent tax so every single year every 12 months that goes by you need to get two to three million dollars together that you basically pay out just in taxes alone okay and keep in mind you probably don’t have a ton of cash sitting on the sidelines once
Again super-rich people don’t keep a ton of cash around okay they have their money tied up in assets okay real estate stocks bonds those sorts of things or actually it’s just like their wealth is tied up in their business so their their business might be worth a hundred million dollars but that doesn’t mean they have a hundred million dollars this just means if they
Sold their business they would have a hundred million dollars so then you have to worry about i’m going to constantly sell ownership stakes in different companies i own i’m gonna constantly have to sell off stocks or real estate every single year just to pay this wealth tax okay it is a routine crazy thing needs to say mass amounts of selling when you tap in every
Single year okay also i don’t think what elizabeth warren realizes is a super-rich they can do some things like move okay they can literally move to another country to avoid that tax like a does she not realize like the rich are i mean especially if you’re talking about people that have 50 million 100 million you know a billion dollars these type of individuals you
Think they want to give up 3% of their wealth and constantly have to worry about oh i need to sell off this asset now i need to solve this just to pay tax that’s absolutely insane then you could move to monaco where they pay no taxes okay they can move to hong kong and you go join the protesters i’m they’re a lot more tax friendly there they can literally move to
So many different places where they wouldn’t have to worry about a ridiculous wealth tax like this and it would be very easy for them to pull this off rather than having to worry about constantly i need a salt i need to sell this and you sell that just to cover these taxes like it’s absolutely insane okay elizabeth warren you got to just like realize what’s going
On here okay cooperman chairman and ceo of omega visors takes issue with what he calls warren’s quote war on a billionaires he says quote i believe in a progressive income tax structure i believe rich people should pay more i have no problem with that this world tax is balloony he says okay he says quote you don’t make poor people rich by making rich people poor
He had a sighting winston churchill the main vice of capitalism is the unequal distribution of prosperity the main voice of socialism is the equal distribution of misery very well said mr. cooperman like you couldn’t have said it better just well saddle just gonna leave it at that okay warren said at tuesday night’s democratic debate that she doesn’t have quote
A beef with billionaires but added that if you make it to the top you need to quote pitch in to help other children reach the same opportunity okay let’s talk about this little pitch in and then we’re gonna get into like if i think the stock market would drop 25 percent plus if elizabeth warren is elected president okay so let’s talk about pitching in ok jeff bezos
So he’s you know obviously the face of the super-rich right he’s the face of the super-rich what you know net worth of a hundred plus billion dollars you know the leader of amazon the ceo they’re the biggest shareholder the richest guy in the world ok he’s a face of a super-rich amazon employees like over 600,000 employees and and you know as of now they’re probably
Approaching 700,000 employees and many of those jobs are in the united states of america and this whole thing about the rich don’t pitch in ok and elizabeth warren i’m excuse me ma’am but how many jobs have you created have you created 700,000 jobs no you probably haven’t even created ten jobs ok so slow your roll about they don’t pitch in look who’s actual ones
Create and the jobs look at who’s the ones actually paying the taxes ok the top 1% paid a greater share of individual income taxes than the bottom 90% combined in the united states of america the top 1% paid more than the bottom ninety percent combined okay so elizabeth warren the rich don’t you know chip in they don’t have their fair share blah blah blah they’re
The ones paying literally all the taxes pretty much in the united states of america and they’re literally the ones treating all the jobs so this whole thing about oh they don’t they don’t help out or something like that is it’s absolutely ridiculous okay she’s absolutely ridiculous k education and faster economic growth is the answer to the country’s inequality
Problem said cooperman at the end of the day capitalism is what distinguishes america okay and you know i’ll just say you know if you want to make people a lot richer teach them about business and teach them about investing so they have a mindset of being able to you know start their own businesses and things like that because that’s the easiest well that’s the
Most realistic way to actually achieving you know a good level of wealth if you start your own business or something like that and you’re not just like working at walmart as i cashier because that’s gonna be really hard and also teaching people about investing so they can actually like make their money into money and understand like the power of compounding and
Things like that we don’t do either those in the education system if you really want to you know amp up people start teaching about business start teaching about investing and we’ll get a lot further in this game for those individuals okay but let’s go ahead and talk about the stock market in general so you know glia and cooperman is talking about 25 percent drop
So we’re talking about maybe a you know fall to like twenty thousand for the dow maybe even down 18,000 we’d have to see that’s what he’s talking about there and and when i kind of think about this would the stock market dropped 25 percent it was very much a possibility but i don’t think it would happen overnight i don’t think this is a situation where ellison you
Know let’s say elizabeth warren is elected president or bernie sanders is one of these individuals that he thinks you know the stock market would drop 25 percent if one of those individuals were elected president i don’t think olson the stock market opens up the next day and it’s down 25% or something like that i think it would be a gradual fall over the course of
One to two years and is a very possible the stock market could have fall to those levels ok but here’s the thing just because you have plans as going in as a president does it mean you’ll even execute those plans ok so that’s a big thing to understand here so let’s say elizabeth warren has this plan that you know tax it you know this ridiculous wealth tax and things
Like that just because she has that going in does that mean she’s going to be able to pull that off and get that through the government and whatnot and actually get that enacted so there’s something to keep in mind here i know a lot of people you know hear these different plans from individuals and they think oh they’re gonna you know raise taxes to insane levels
Or things like that sometimes it doesn’t even make it through okay so in my opinion could the stock market drop if she’s elected you know quite substantially over a period of time it’s a possibility but keep in mind just because she has plans going in doesn’t mean those plans would actually happen okay it’s just something really important to understand there not
A lot of people realize okay and i’m just going to leave the video with this here today united states population we’re about to hit 330 million people living here in the united states and if we look at our three presidential candidates we really have to pick from we have mr. trump mr. twitter himself mr. everybody’s doing fake news and i’m the greatest president
Ever like he said several several times okay we have to choose from him or joe biden who literally oh my gosh i think the guy you know sleepy joe is probably a pretty good nickname for him like i watched some interviews with him and i just don’t think he’s fully there i’ll be completely honest or elizabeth warren who wants to you know have this insane wealth tax
And you know they say in trump’s on easy win but i’m like really 330 million people you know tell me these are three candidates we realistically happened to pick from in the united states of america these are the three that actually have a decent chance that’s you know though the probabilities are that they will win okay and i’m like america can we do better than
This and there’s only one thing there’s only one thing that can fix this only one thing okay and that is smashing the like button
Transcribed from video
Leon Cooperman "Stock Market Will FALL 25% If Elizabeth Warren Is Elected By Financial Education
