The billionaire predicted that taxes will need to be raised soon.
that the country is shifting to the left politically, and disregarding who becomes president in November, taxes will have to be raised.
“Quickly if Biden wins, slowly if Trump wins, but taxes have to go up,” he said. “Things like carried interest, capital gains taxes, the ability to roll over real estate sales tax free, all that stuff is going to have to be eliminated.”with CNBC comes as markets try to digest worsening economic data showing the impact of the coronavirus—but also declining numbers of new cases, which has given Wall Street some reason for optimism.
With the Trump administration laying out plans for reopening the country, Cooperman said he was optimistic that parts of the economy could start to reopen next month, in May, although he expects the overall recovery from coronavirus to be slow.that the U.S. government should not let companies go bankrupt because of coronavirus. Bailouts would help “avoid the huge surge in unemployment,” he argued.
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