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Billionaire close to tears amid fears of "lefties" like AOC, Bernie Sanders (www.newsweek.com)

submitted 1 year ago by runiq@feddit.de to c/politics@beehaw.org

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Billionaire Leon Cooperman was on the verge of tears while speaking about his concern about "the lefties" and their progressive outlook on capitalism.

"I've lived the American dream. I'm trying to convince people like [Senators] Elizabeth Warren, Bernie Sanders and AOC (Rep. Alexandria Ocasio-Cortez)—don't move away from capitalism. Capitalism is the best system," Cooperman said on CNBC's Squawk Box on Friday while holding back tears. "I get choked up when I talk about it because basically, my father came to America at the age of 12 as a plumber's apprentice. No education."

"I went to public school in the Bronx, high school in the Bronx, college in the Bronx. I started my career in Wall Street the day after I got my MBA from Columbia. I had no money. I couldn't afford a vacation. I made a lot of money. I'm giving it all back," Cooperman said before co-anchor Rebecca Quick stepped in as he choked up.

"Giving it all back?" Give me a fucking break, asshole.

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[–] Dark_Arc@social.packetloss.gg 0 points 1 year ago (1 children)

If we could get affordable universal healthcare and affordable colleges, I would be beyond thrilled.

I agree.

I think a universal basic income would also make a ton of sense, as we potentially enter the era of AI taking over a lot of our jobs.

I don't really believe AI is going to come for that many jobs ... at least not in its current generation/family. It's more of a story teller than a serious threat (it's like a robot that builds caricatures of products that occasionally are correctly assembled).

That said, I'm not entirely opposed to a universal basic income or a universal supplementary income (a point my father made is that rather than trying to raise the minimum wage, why not progressively subsidize people below a certain threshold).

Personally, I'd prefer to see the efficiency gains result in a 3 or 4 day work week for most people. Lots of people would decline without anything to do and society in general could miss out on some great minds that instead of creating simply consumed.

[–] BricksDont@beehaw.org 1 points 1 year ago

Yes, I think we should already be at a 4 day work week for many jobs. If you look at productivity and efficiency growth since the 40 hour work week was invented, it's off the charts.

However, that's one of the problems with unbridled capitalism. The market demands constant growth, which is hard to sustain and doesn't reward easing up on employees.