 I want to share a clip that case study QB posted to Twitter without case study QB I probably wouldn't know about half of these clips that I find so shout out to them. Definitely give them a follow This feature is the crying billionaire Leon Cooperman. This is the individual who literally on national television cried at the idea of The wealth tax mind you the wealth tax has absolutely no chance of passing in the short-term future But the mere idea that politicians would institute a tax on wealth brought him to tears and This individual you can understand why it affects him personally because he is worth an estimated 2.5 billion dollars So when people criticize, you know, the rich and they talk about taxing the rich and eating the rich He takes it personally so in a new clip on CNBC he wanted to denounce the hatred and vitriol spewed toward elites and he says a lot of very stupid things that That show why nobody should take rich people seriously I think he's the poster boy as to why we shouldn't Take anything that someone this wealthy has to say Because they're not serious like the arguments that he's making aren't actually valid arguments What we see from him. It's a little more than platitudes and even to say that is to be overly charitable But take a look and then we're gonna destroy what he has to say very quickly about share buybacks That was another issue. We got into a senator Warren yesterday Which he's talking about, you know, sure there Buybacks should be evaluated Is a management decision like any other capital allocation decision you go out and you buy another company You go out and you spend money on plant and equipment. You pay a dividend, you know It's a it's a decision made by management and it has to be evaluated You know, I learned a lot about buyback by watching dr. Henry singleton operate. He was a brilliant brilliant executive Okay, and he did eight self tender offers from 1972 to 1984 We tried 90% of his stock never selling his share of his own stock I hate buybacks where management's are buying back a lot of stock and selling into the buyback He never sold the share of his stock. He died as the second largest owner of land in America next to Ted Turner He became a multi-billionaire because of his wise decisions Okay, he created a tremendous man well for shareholders when the shareholders cash in their stock They pay taxes to the government Okay, we don't need the government the government has not proven to be a great allocative capital We don't need artificial decision-making. We just let the let the invisible hand of capitalism work We have the greatest economy in the world Look, the thing that I fear most is the young people in this country are embracing socialism Not not understanding that we have one of the most effectively working economies in the world Okay, and we should not look to make radical changes. We could make changes around the edge We could do a better job no question about it. I have no problem in the raising taxes I have no problem with eliminating loopholes. You know, let's we've talked about carrying interest for a decade on this program Nothing has been done. It should be taxes ordinary income. Okay. It's as simple as that. We don't need a new regime It's not wise. It will lead to un Economic decision-making and I think Tillman fatigue fatigue did an excellent job yesterday or one of your segments You're discussing his views and explaining the problems which I could go through but not necessary to repeat what he had to say Because he did a very good job of Disclosing it, you know, you don't have to do it. It's just it's a sound bite. It's sound No reason to be hostile to wealth whether it's AOC Bernie Sanders is Elizabeth Warren There's no reason to be hostile or well, we all have to work together to deal with their problems It's simple as that and you got decide whether your capitalist the way it is socialist Socialist hands down definitely socialist This argument is really really terrible. He says there's no reason to be hostile towards wealth now for him Of course, we can understand why he doesn't want people to be hostile towards wealth because he has a lot of wealth But you see the issue is it's not just that you have a lot of wealth and we're jealous The issue is that you and your rich buddies hoard most of the wealth and you're still not satisfied You're still trying to further rig the rules in your favor so you can increase the wealth that you already have While the peasants have crumbs you're trying to lobby the government for even more tax breaks He says that he you know isn't against raising taxes Well, I mean maybe spread the word Amongst your rich friends that when you continuously lobby for the tax burden to be shifted even more to the working class That is going to absolutely drive more hatred and vitriol towards elites and furthermore What drives hostility which is warranted towards elites is when we even get a small Victory or discuss the codification of a small victory with regard to workers rights such as the $15 an hour minimum wage Which is now in jeopardy Immediately all of corporate America gears up to try to lobby against it So any progress that we make you fight against all of the wealth in this country You have you own the means of production So we have every reason in the world to be hostile towards wealth and not just hostile towards the Institutions and the system that allows for you know these levels of obscene wealth But hostile towards the individuals such as Leon Cooperman who perpetuate the system by propping it up By arguing for this very system, and I love what he said because he really shared Why he's chosen to speak out the thing that I fear most is that young people in this country are embracing socialism Not understanding that we have one of the most effectively working economies in the world If that were the case though Wouldn't these young people be more inclined to support capitalism if it benefited them in any way whatsoever I mean we are burdened with debt This generation is not buying cars not buying houses not having children in comparison with you know previous generations Maybe if they actually were able to reap some of the rewards of capitalism They wouldn't be as receptive to socialist arguments, but because you idiots are so fucking greedy Even giving them a little bit more than crumbs is beyond the pale because you've got to have it all and You wonder why young people are taking a liking to socialism Hmm Maybe it's because capitalism has been a failure Maybe because capitalism has only served people like you and I love when he threw in the classic line of let the invisible hand of Capitalism work. The problem is that capitalism is an inherently volatile system It doesn't work without intervention from the government what now seems like every couple of decades It doesn't work it collapses and he says that like let's just let capitalism do its thing But the second one of his companies whatever he does to get that wealth the second It's convenient. He'd be begging for a government handout He'd be begging for socialism for large multinational corporations because this is how capitalism works The system requires management from government Capitalists will argue that you know, they don't need any regulation They don't need the government to interfere but the minute that it's convenient the minute that they collapse the minute wall street Engages in reckless behavior. Well, they're crying for a bailout. So functionally what he's arguing for is corporate authoritarianism Where a large multinational corporations and their executives have the utmost freedom In this capitalist society But the peasants have to shut the fuck up and accept their crumbs and if you even speak out and be a little bit angry He's gonna cry, but he says, uh We all have to work together. I love that platitude. We all have to work together except that's not happening Working together would imply that in this capitalist system Both the workers the employees and the employers Have an equal seat at the table have an equal say in the policymaking process But that's not happening. That's why We are seeing the laws being written to the benefit Of these corporations and to the detriment of their workers You see There's a reason why policy outcomes reflect what special interests and elites want And why normal ordinary citizens have a statistically insignificant impact on policy outcomes This is according to a 2014 Princeton university study by doctors gillens and page It's because we're not working together corporations haven't just exploited their workers But they have corrupted democracy So you wonder why young people aren't really liking capitalism as it stands now Well, it's because like It's not working for them. So of course, of course They fucking hate capitalism. Who wouldn't? Leon kuperman would fucking hate capitalism if he found himself on the opposite end of the economic spectrum But he's on the very tippy top So it's really easy for him to look down on the peasants from his ivory tower And denounce all of the hatred that he sees the discrimination that he sees towards the rich But guess what? Fuck elites like leon kuperman Any hatred and vitriol towards elites and the system itself Isn't just uh deserved But it is necessary Because if you don't feel pressure Then that means that we're not speaking out enough So I absolutely love to see this fucking capitalist pigs squeal Keep crying bitch because we're not backing down anytime soon You've had your heyday the capitalists have created the dystopian society that we're all living in now So at a minimum you should be happy that we're just speaking out against it and not coming with our fucking pitchforks