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Billionaire Leon Cooperman Says $400,000 Income Doesn’t Make You Rich

Billionaire says the rich ought to pay more in taxes
The nation is not in line with progressives, Cooperman says

WATCH: Billionaire Leon Cooperman says “all this talk about wealth taxes is baloney” on Bloomberg TV.Source: Bloomberg

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By Akayla Gardner and Sophie Alexander

November 11, 2021 at 2:26 PM UTC

Updated on

November 11, 2021 at 2:42 PM UTC

This article is for subscribers only.

Billionaire investor Leon Cooperman said he doesn’t consider someone earning $400,000 a year rich after that figure was proposed by President Joe Biden and House Democrats in plans to raise taxes on wealthy households.

“I believe rich people should pay more in taxes,” Cooperman said in an interview Thursday with Bloomberg Television. “The question we have to deal with as a nation is coalesced around the question: What should the maximum tax rate be on wealthy people?”