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Leon Cooperman calls Warren’s wealth tax ‘foolish,’ says people would hide money to avoid it – CNBC

“If the wealth tax passes, go out and buy yourself some gold because people are going to rush to find ways of hiding their wealth,” the billionaire told CNBC.

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Billionaire Leon Cooperman told CNBC on Wednesday he believes rich people would find ways to avoid paying Sen. Elizabeth Warren’s wealth tax if it were to become law. He also argued there are better mechanisms to raise federal government revenue.
“The idea has no merit. It’s foolish. It probably is not legal,” he said on “Squawk Box.”
“If the wealth tax passes, go out and buy yourself some gold because people are going to rush to find ways of hiding their wealth,” Cooperman added.
Cooperman’s appearance…

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