Elizabeth Warren’s wealth tax won’t be ‘a big deal,’ says investor Mark Mobius

Democratic presidential hopeful Massachusetts Senator Elizabeth Warren speaks during the fourth Democratic primary debate of the 2020 presidential campaign season co-hosted by The New York Times and CNN at Otterbein University in Westerville, Ohio on October 15, 2019. U.S. presidential hopeful Elizabeth Warren’s proposed wealth tax may not come to pass even if she’s elected, says prominent investor Mark Mobius who added that the markets would still fall anyway. Warren, a front-runner for the Dem


Democratic presidential hopeful Massachusetts Senator Elizabeth Warren speaks during the fourth Democratic primary debate of the 2020 presidential campaign season co-hosted by The New York Times and CNN at Otterbein University in Westerville, Ohio on October 15, 2019.
U.S. presidential hopeful Elizabeth Warren’s proposed wealth tax may not come to pass even if she’s elected, says prominent investor Mark Mobius who added that the markets would still fall anyway.
Warren, a front-runner for the Dem
Elizabeth Warren’s wealth tax won’t be ‘a big deal,’ says investor Mark Mobius Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: yen nee lee
Keywords: news, cnbc, companies, tax, warren, wealth, presidential, campaign, hopeful, going, mark, deal, investor, mobius, warrens, markets, big, democratic, wont, elizabeth


Elizabeth Warren's wealth tax won't be 'a big deal,' says investor Mark Mobius

Democratic presidential hopeful Massachusetts Senator Elizabeth Warren speaks during the fourth Democratic primary debate of the 2020 presidential campaign season co-hosted by The New York Times and CNN at Otterbein University in Westerville, Ohio on October 15, 2019.

U.S. presidential hopeful Elizabeth Warren’s proposed wealth tax may not come to pass even if she’s elected, says prominent investor Mark Mobius who added that the markets would still fall anyway.

Warren, a front-runner for the Democratic presidential nomination, has made reining in the excesses of the wealthiest Americans and largest U.S. businesses a centerpiece of her campaign. Several well-known business executives and investors have criticized her plans, saying a Warren presidency would harm financial markets and the economy.

“I don’t think this wealth tax is going to be a big deal, frankly,” Mobius, founding partner of Mobius Capital Partners, told CNBC’s “Global Squawk” on Wednesday.

“Because if you look at who’s giving money to Warren: wealthy people. So, they realize that it’s talk,” he added. “At the end of the day, when it comes to actual action, it’s not going to be significant. I don’t see a wealth tax coming in.”

Warren’s campaign did not immediately respond to a request for comment outside office hours.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: yen nee lee
Keywords: news, cnbc, companies, tax, warren, wealth, presidential, campaign, hopeful, going, mark, deal, investor, mobius, warrens, markets, big, democratic, wont, elizabeth


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Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren’s wealth tax plan

Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public. Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America. Warren’s net worth is actually in fourth place in the Democratic field, behind billio


Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public.
Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America.
Warren’s net worth is actually in fourth place in the Democratic field, behind billio
Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren’s wealth tax plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: jordan mcdonald
Keywords: news, cnbc, companies, sen, million, 2020, worth, tax, warrens, elizabeth, wealth, plan, net, democratic, mark, policy, latest, billionaire, warren, cuban


Mark Cuban is latest billionaire to bash Sen. Elizabeth Warren's wealth tax plan

Billionaire investor Mark Cuban suggested in a series of weekend tweets that the proposed wealth tax from 2020 presidential candidate Sen. Elizabeth Warren, D-Mass., “diverts attention from reality” and is designed to hide her own wealth from the public.

Warren’s wealth tax, exemplified by the “two cents” chant that dominates her rallies, calls for a 2% tax on every dollar a household has above $50 million, which would increase to a 6% tax for households with a net worth of more than $1 billion. That money would be used to pay for a variety of her policy proposals, including her “Medicare for All” plan.

Cuban, who owns the Dallas Mavericks of the NBA, highlighted Warren’s income and net worth, which at $12 million puts her squarely among the top 1% in America.

Warren’s net worth is actually in fourth place in the Democratic field, behind billionaire Tom Steyer, former Maryland Rep. John Delaney and Colorado Sen. Michael Bennet.

While Cuban declared Warren the smartest of the 2020 candidates, he also suggested that Warren is “intellectually misleading the public” on the prospects of funding her Medicare for All policy, which Warren says would cost $20.5 trillion over 10 years but some policy experts have pegged at $32 trillion over the same time frame.

Warren’s campaign did not immediately respond to a request for comment.

Almost every Democratic challenger in the 2020 presidential race is a millionaire, with only Julian Castro, Tulsi Gabbard, and Pete Buttigieg with net worths below $1 million. Excluding Steyer and President Donald Trump’s net worth, Warren’s net worth is just below the average of $12.9 million, according to Forbes.

Cuban is just one of America’s wealthiest citizens finding fault with Warren’s platform of taxing the rich.

Billionaire investor Leon Cooperman, who in recent weeks has sparred with Warren over her tax policies, said on CNBC that her platform was “idiocy.”

“I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me,” Cooperman told CNBC.

Warren’s wealth tax is also raising monumental concern for Democratic donors, who have threatened to back Trump if the Democratic Party were to nominate her for the general election.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: jordan mcdonald
Keywords: news, cnbc, companies, sen, million, 2020, worth, tax, warrens, elizabeth, wealth, plan, net, democratic, mark, policy, latest, billionaire, warren, cuban


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Consumer advocate Ralph Nader on Elizabeth Warren’s wealth tax

Consumer advocate Ralph Nader on Elizabeth Warren’s wealth taxRalph Nader, consumer advocate and former presidential candidate, joins CNBC’s “Closing Bell” to discuss Sen. Elizabeth Warren’s wealth tax plans.


Consumer advocate Ralph Nader on Elizabeth Warren’s wealth taxRalph Nader, consumer advocate and former presidential candidate, joins CNBC’s “Closing Bell” to discuss Sen. Elizabeth Warren’s wealth tax plans.
Consumer advocate Ralph Nader on Elizabeth Warren’s wealth tax Cached Page below :
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Keywords: news, cnbc, companies, nader, sen, taxralph, tax, warrens, consumer, elizabeth, wealth, advocate, ralph


Consumer advocate Ralph Nader on Elizabeth Warren's wealth tax

Consumer advocate Ralph Nader on Elizabeth Warren’s wealth tax

Ralph Nader, consumer advocate and former presidential candidate, joins CNBC’s “Closing Bell” to discuss Sen. Elizabeth Warren’s wealth tax plans.


Company: cnbc, Activity: cnbc, Date: 2019-11-11
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Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president

Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark. Ole Jensen | Getty ImagesBillionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president. Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday. A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s cam


Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark.
Ole Jensen | Getty ImagesBillionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president.
Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday.
A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s cam
Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
Keywords: news, cnbc, companies, leon, primary, president, hes, bloombergs, cooperman, michael, campaign, fellow, warren, mike, elizabeth, billionaire, trump, support, bloomberg


Leon Cooperman, who has been battling Elizabeth Warren, says he will support fellow billionaire Mike Bloomberg for president

Former Mayor of New York City Michael Bloomberg, October 10, 2019 in Copenhagen, Denmark. Ole Jensen | Getty Images

Billionaire Leon Cooperman says he will support former New York Mayor Mike Bloomberg if he enters the 2020 Democratic primary for president. “I’m a huge fan of Michael. I know him personally. It’s a breath of fresh air. Unless he changes his stripes, he will have my unequivocal support,” Cooperman told CNBC on Friday. Cooperman, in an extensive phone interview, noted he would help Bloomberg with fundraising, as long he sticks with his moderate policies. “That’s the whole idea,” he said when asked about potentially helping with fundraising. “I have a world of respect for his accomplishments and his values. I have to sit down and understand his platform. If the Democratic Party was smart, they would support him.” he added.

Bloomberg, 77, has not formally announced his presidential campaign yet. Cooperman is one of several Wall Street executives who are already preparing to help Bloomberg in anyway they can if he runs for president. A private equity executive, who declined to be named in order to speak frankly about the situation, said he would likely support Bloomberg’s campaign as well. This person has contributed to former Vice President Joe Biden’s campaign and others in the race, but has not been impressed so far with the overall field. Cooperman and Bloomberg were both the targets of President Donald Trump on Friday. He nudged the longtime investor, by noting “he’s doing very well with Trump.” Later he took on Bloomberg possibly getting into the primary and said he’d relish a chance at facing him in a general election. “He’s not going to do well but I think he’s going to hurt Biden actually,” Trump said of Bloomberg. “There’s nobody I’d rather run against than little Michael.” A spokesman for Bloomberg did not return a request for comment. While Bloomberg has a net worth of just over $52 billion, according to Forbes, and has signaled he would spend more than $100 million on a campaign for president, he will still need donors to qualify for any potential debates. Cooperman has a net worth of $3.2 billion, according to Forbes. Cooperman, chairman and CEO of Omega Advisors, recently sent a letter to Sen. Elizabeth Warren, a potential rival of Bloomberg’s. In it, he cited Bloomberg’s story of becoming a self-made billionaire as a reason not to criticize the wealthy, as Warren has done since she officially entered the primary in February.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
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Joe Biden allies are worried that a Mike Bloomberg candidacy could clinch the nomination for Elizabeth Warren

“I think Bloomberg was a great mayor, but I think he’s making a mistake. Other Biden supporters are skeptical that Bloomberg will actually be a viable candidate. Some Biden supporters painted Bloomberg as an indecisive, wavering politician. As mayor of New York, Bloomberg was first a Republican and then later became an independent. If he could pick up Joe Biden’s supporters, [Pete] Buttigieg supporters, Kamala Harris supporters, Amy Klobuchar supporters, Cory Booker’s supporters, those aren’t tr


“I think Bloomberg was a great mayor, but I think he’s making a mistake.
Other Biden supporters are skeptical that Bloomberg will actually be a viable candidate.
Some Biden supporters painted Bloomberg as an indecisive, wavering politician.
As mayor of New York, Bloomberg was first a Republican and then later became an independent.
If he could pick up Joe Biden’s supporters, [Pete] Buttigieg supporters, Kamala Harris supporters, Amy Klobuchar supporters, Cory Booker’s supporters, those aren’t tr
Joe Biden allies are worried that a Mike Bloomberg candidacy could clinch the nomination for Elizabeth Warren Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
Keywords: news, cnbc, companies, york, nomination, mike, biden, supporters, warren, joe, democratic, clinch, hes, worried, elizabeth, candidacy, race, mayor, bidens, think, bloomberg


Joe Biden allies are worried that a Mike Bloomberg candidacy could clinch the nomination for Elizabeth Warren

Joe Biden’s allies are becoming increasingly concerned that a Mike Bloomberg candidacy could take votes away from the former vice president and help Sen. Elizabeth Warren win the race for the Democratic presidential nomination.

Bloomberg’s political aides confirmed that he’s again considering entering the 2020 race, after he decided against it in March. Top Bloomberg advisor Howard Wolfson said Thursday that the billionaire former New York mayor is “increasingly concerned that the current field of candidates is not well-positioned” to defeat President Donald Trump next year.

Biden told reporters on Friday that he welcomes Bloomberg, a fellow moderate, into the race. Yet several of his supporters see the former mayor’s move as potentially giving an edge to Warren, a liberal populist.

“This hurts Biden tremendously,” said one of Gov. Andrew Cuomo’s outside advisors. Cuomo has encouraged his vast donor network to back the former vice president. “Even if he doesn’t get it,” this person added, “the whole thing plays that Biden is weak. It cements in people’s minds that Biden can’t make it work.”

Bloomberg is already gaining the support of people on Wall Street, a core source of fundraising for Biden. Billionaire Leon Cooperman endorsed Bloomberg him before he even officially jumps into the primary. Biden’s closest supporters largely agree that Bloomberg and Biden would likely split moderate voters in the party.

Democratic voters who identify with middle-of-the-road policies have been a key constituency for Biden’s candidacy. Recent New York Times/ Siena College polls show Biden ahead of all the other candidates in favorability in the key battleground states of Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin. That same surveys show that a majority of participants want a moderate candidate and one that will find common ground with Republicans.

Bernard Schwartz, a Biden supporter and CEO of BLS Investments, said that Bloomberg’s possible candidacy could give a boost to Warren, who has made targeting billionaires a key part of her appeal.

“I think it takes away from [Warren’s] biggest competitor, and that’s Joe Biden. I’m not saying Bloomberg is doing it intentionally, but that what I think the result would be,” he said. “I think Bloomberg was a great mayor, but I think he’s making a mistake. If you have a few billion dollars you can do what you want to do.”

Other Biden supporters are skeptical that Bloomberg will actually be a viable candidate.

“I see his move as a placeholder until we get clarity on Joe’s viability,” one of Biden’s top fundraisers said about Bloomberg’s recent move. This person spoke on the condition on anonymity in order to speak freely.

Some Biden supporters painted Bloomberg as an indecisive, wavering politician.

“I think it’s ridiculous and I think ultimately, 45 days from now, I don’t think Bloomberg will be a candidate,” said a Wall Street banking executive backing Biden who declined to be named. “Can I remind everyone he was a Republican before he became a Democrat? Can I remind you that the Democratic Party of 2020 is not rallying around billionaires?” this person added.

As mayor of New York, Bloomberg was first a Republican and then later became an independent. Bloomberg switched to the Democratic Party a month before last year’s midterm congressional elections.

“He’s like Mario Cuomo or even Hamlet on the Hudson. He’s in, he’s not in. Until I see real proof he’s in then I don’t believe it,” said a lobbyist helping Biden behind the scenes. Cuomo, the late former New York governor and father of Andrew Cuomo, famously agonized over whether to run for the Democratic nomination in the 1992 race before ultimately deciding not to.

Representatives for Biden and Bloomberg did not return a request for comment.

Political strategists from both sides of aisle see a Bloomberg candidacy ultimately hurting Biden. But they also broadly acknowledge that the former New York mayor doesn’t have a chance to win a primary with formidable candidates, including democratic socialist Sen. Bernie Sanders, pushing progressive policies.

“Biden’s doing enough to hurt himself right now. It could accelerate his demise,” Democratic strategy Mary Anne Marsh told CNBC. “I think Bloomberg’s premise is flawed. If he could pick up Joe Biden’s supporters, [Pete] Buttigieg supporters, Kamala Harris supporters, Amy Klobuchar supporters, Cory Booker’s supporters, those aren’t transferable,” she added.

“No shot a billionaire who still supports stop-and-frisk wins the Democratic primary. And a third party run would just reelect Trump,” said Chapin Fay, who was a media advisor for GOP billionaire and former New York mayoral candidate John Catsimatidis.

The stop-and-frisk policy allowed New York police officers to search or detain anyone them deem suspicious. Bloomberg defended the tactic earlier this year.

Meanwhile, some Biden fundraisers seem to be shrugging off any effect Bloomberg may have on their candidate’s campaign.

During a conference call Friday with Biden’s top financiers in California, bundlers discussed ways they can start focusing on trying to siphon donors and fundraisers from Sen. Kamala Harris, according to people familiar with the matter. These people said Biden financiers are looking to reach out to Harris’ lead fundraisers in her home state before they get behind Warren.

Bloomberg did not come up on the call, they added.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: brian schwartz
Keywords: news, cnbc, companies, york, nomination, mike, biden, supporters, warren, joe, democratic, clinch, hes, worried, elizabeth, candidacy, race, mayor, bidens, think, bloomberg


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Elizabeth Warren shares a ‘calculator for billionaires’ for her wealth tax plan

Democratic presidential candidate Elizabeth Warren revealed a “calculator for the billionaires” on Thursday that shows how much the wealthiest Americans would pay under her wealth tax plan. “Some billionaires seem confused about how much they would pay under my #TwoCentWealthTax,” Warren tweeted after billionaires Bill Gates and Leon Cooperman expressed concern about how much they’d pay under her plan. “Don’t worry, we’ve got a calculator for that, too.” The users of Warren’s calculator can inpu


Democratic presidential candidate Elizabeth Warren revealed a “calculator for the billionaires” on Thursday that shows how much the wealthiest Americans would pay under her wealth tax plan.
“Some billionaires seem confused about how much they would pay under my #TwoCentWealthTax,” Warren tweeted after billionaires Bill Gates and Leon Cooperman expressed concern about how much they’d pay under her plan.
“Don’t worry, we’ve got a calculator for that, too.”
The users of Warren’s calculator can inpu
Elizabeth Warren shares a ‘calculator for billionaires’ for her wealth tax plan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: taylor locke
Keywords: news, cnbc, companies, pay, tax, warrens, calculator, worth, billion, warren, plan, elizabeth, shares, wealth, theyd, billionaires


Elizabeth Warren shares a 'calculator for billionaires' for her wealth tax plan

Democratic presidential candidate Elizabeth Warren revealed a “calculator for the billionaires” on Thursday that shows how much the wealthiest Americans would pay under her wealth tax plan.

“Some billionaires seem confused about how much they would pay under my #TwoCentWealthTax,” Warren tweeted after billionaires Bill Gates and Leon Cooperman expressed concern about how much they’d pay under her plan. “Don’t worry, we’ve got a calculator for that, too.”

The users of Warren’s calculator can input any billionaire’s net worth to see what they’d pay, or they can choose from names including Gates, Jeff Bezos, Michael Bloomberg and Betsy Devos’s family.

Gates, for example, currently worth about $107 billion, would pay about $6.38 billion under Warren’s tax plan, and Jeff Bezos, currently worth $111 billion, would pay about $6.7 billion, according to the calculator.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: taylor locke
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Elizabeth Warren offers to meet with Bill Gates over wealth tax

Gates said he was somewhere in between the extremes of cutting the estate tax and imposing a 6% wealth tax on billionaires, an idea Warren, a Massachusetts senator, floated last week . Gates said the estate tax could be higher. Democratic presidential candidate Elizabeth Warren announced on Wednesday that she would be willing to meet with Bill Gates, hours after the Microsoft co-founder stopped short of expressing support for Warren’s proposed 6% tax on billionaires to cover Medicare costs. Warr


Gates said he was somewhere in between the extremes of cutting the estate tax and imposing a 6% wealth tax on billionaires, an idea Warren, a Massachusetts senator, floated last week .
Gates said the estate tax could be higher.
Democratic presidential candidate Elizabeth Warren announced on Wednesday that she would be willing to meet with Bill Gates, hours after the Microsoft co-founder stopped short of expressing support for Warren’s proposed 6% tax on billionaires to cover Medicare costs.
Warr
Elizabeth Warren offers to meet with Bill Gates over wealth tax Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: jordan novet
Keywords: news, cnbc, companies, warren, gates, meet, professional, york, elizabeth, billionaires, tax, wealth, billion, bill, weigh, policy, approach, offers


Elizabeth Warren offers to meet with Bill Gates over wealth tax

He argued that taxing too much, though, could jeopardize the U.S.’ status as the place to build innovative businesses. Gates said he was somewhere in between the extremes of cutting the estate tax and imposing a 6% wealth tax on billionaires, an idea Warren, a Massachusetts senator, floated last week . Gates said the estate tax could be higher.

“I’m all for super-progressive tax systems,” said Gates , the world’s second-richest person and co-chair of the nonprofit Bill & Melinda Gates Foundation, during an appearance at the New York Times’ DealBook conference in New York on Wednesday.

Democratic presidential candidate Elizabeth Warren announced on Wednesday that she would be willing to meet with Bill Gates, hours after the Microsoft co-founder stopped short of expressing support for Warren’s proposed 6% tax on billionaires to cover Medicare costs. He had said he wasn’t sure if she would be open to sitting down with him.

Warren’s willingness to talk with Gates suggests that there could be even more attention on an already controversial policy that’s emerged in the run-up to the 2020 presidential race. In recent days Warren has exchanged criticisms with investor Leon Cooperman in the context of the federal contributions billionaires ought to make.

Gates said he has paid over $10 billion in taxes, more than anyone else, and would be happy to pay $20 billion.

“When you say I should pay $100 billion, OK, then I’m starting to do a little bit of math about what I have left over,” Gates told Andrew Ross Sorkin, a New York Times columnist and co-anchor of CNBC’s “Squawk Box.” “Sorry, I’m just kidding.”

Warren alluded to Gates’ $100 billion comment in a Wednesday tweet in which she offered to meet with him.

Gates was asked how he would proceed if Warren were selected to face President Donald Trump in the election next year.

“I’m not going to make political declarations,” Gates said. “But I do think no matter what policy somebody has in mind, a professional approach is even — as much as I disagree with some of the policy things that are out there, I do think a professional approach to the office — whoever I decide would have the more professional approach in the current situation probably will weigh — is the thing that I’ll weigh the most.”

Gates is hoping the more professional candidate is electable, he added.

“I’d love somebody to find a middle-ground approach, because the government’s role in health care and better education — the government does need more resources than it has today,” Gates said.

WATCH: Sen. Warren has a new tax proposal


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: jordan novet
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Stock market at record finds a new foe: ‘Elizabeth Warren is the new Wall of Worry’

Democratic presidential candidate Sen. Elizabeth Warren (D-MA) speaks during a rally in Washington Square Park on September 16, 2019 in New York City. “With the trade war cooling down, the impeachment looking like a sitcom and recession fears subsiding, Elizabeth Warren is the new Wall of Worry,” Josh Brown, CEO of Ritholtz Wealth Management, said in a tweet Thursday. “You’ll be hearing about her night and day on Wall Street. Traders believe the market always needs a fear, or a host of negative


Democratic presidential candidate Sen. Elizabeth Warren (D-MA) speaks during a rally in Washington Square Park on September 16, 2019 in New York City.
“With the trade war cooling down, the impeachment looking like a sitcom and recession fears subsiding, Elizabeth Warren is the new Wall of Worry,” Josh Brown, CEO of Ritholtz Wealth Management, said in a tweet Thursday.
“You’ll be hearing about her night and day on Wall Street.
Traders believe the market always needs a fear, or a host of negative
Stock market at record finds a new foe: ‘Elizabeth Warren is the new Wall of Worry’ Cached Page below :
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Keywords: news, cnbc, companies, warren, wall, record, elizabeth, street, stock, trade, recently, foe, recession, presidential, finds, market, worry, fears


Stock market at record finds a new foe: 'Elizabeth Warren is the new Wall of Worry'

Democratic presidential candidate Sen. Elizabeth Warren (D-MA) speaks during a rally in Washington Square Park on September 16, 2019 in New York City. Bauzen | GC Images | Getty Images

Wall Street can’t stop talking about Elizabeth Warren, and as trade war fears and recession scares abate, the Massachusetts senator’s ascent is set to become the market’s new obsession. “With the trade war cooling down, the impeachment looking like a sitcom and recession fears subsiding, Elizabeth Warren is the new Wall of Worry,” Josh Brown, CEO of Ritholtz Wealth Management, said in a tweet Thursday. “You’ll be hearing about her night and day on Wall Street. Every strategist will cite her nomination as a risk to watch for in 2020.” The Dow Jones Industrial Average hit another record on Thursday, bringing its gain for the year to 18%. Traders believe the market always needs a fear, or a host of negative factors, to climb a so-called wall of worry higher and keep ascending. When the fears subside, contrarian traders believe that’s a negative for the market.

While it’s still a year to go before the November 2020 presidential election, some the Street’s biggest investors and a host of market strategists for big banks have already expressed unease at the prospect of a Warren win. Should Warren take the White House, the S&P 500 would sink about 25%, billionaire Paul Tudor Jones predicted. Longtime investor Leon Cooperman has been among the most vocal critics of the Democratic presidential hopeful, claiming she is “s—-ing on” the ‘f—–ing American dream” and seeing a market correction on a Warren presidency. Jamie Dimon recently inserted himself in the feud, saying Warren “vilifies successful people.” Wall Street brokerages and market research firms have been loud and clear about the damage a Warren win would do to stocks. Barclays, Oppenheimer, Jefferies and Mizuho recently warned separately about different sectors including health-care services, energy, banks and biotech that would suffer under Warren policies. Goldman Sachs warns the S&P 500 earnings could be reduced by 11% if the 2017 corporate tax cut is entirely reversed. Warren has ratcheted up her pressure on the billionaire class recently, saying that her tax proposal could be doubled to 6% on fortunes over $1 billion to help pay for a “Medicare for All” plan.

Other fears abate

The election is likely to take center stage on Wall Street as the U.S.-China trade battle which roiled the market in the past 18 months has finally moved closer to a resolution. China said Thursday that the world’s two largest economies had agreed to remove existing trade tariffs. Fears of a recession are also cooling down as recent economic data point to an improvement. A gauge for U.S. services activities topped expectations for October, while the labor market remains solid as job creation easily beat estimate last month. A slowdown in corporate earnings this year also seemed to be turning around as results this season have come in largely better than expected. Of the 87% of the S&P 500 companies that have reported so far, about 74% topped analysts’ estimates, according to FactSet.

Warren worries overblown?


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: yun li
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Elizabeth Warren releases new plan for military service members and veterans, emphasizing education

Ahead of Veterans Day, Democratic presidential candidate Sen. Elizabeth Warren released an over 7,500-word plan titled “Keeping our promises to our service members, veterans and military families.” Her proposal covers a broad range of issues that impact military members and families, from raising military pay to eliminating military sexual assault, as well as the policies that impact veterans after their service has ended, such as veteran homelessness. The plan also goes into depth on education


Ahead of Veterans Day, Democratic presidential candidate Sen. Elizabeth Warren released an over 7,500-word plan titled “Keeping our promises to our service members, veterans and military families.”
Her proposal covers a broad range of issues that impact military members and families, from raising military pay to eliminating military sexual assault, as well as the policies that impact veterans after their service has ended, such as veteran homelessness.
The plan also goes into depth on education
Elizabeth Warren releases new plan for military service members and veterans, emphasizing education Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: abigail hess
Keywords: news, cnbc, companies, military, members, releases, impact, work, bill, warren, elizabeth, plan, benefits, released, education, service, emphasizing, veterans


Elizabeth Warren releases new plan for military service members and veterans, emphasizing education

Ahead of Veterans Day, Democratic presidential candidate Sen. Elizabeth Warren released an over 7,500-word plan titled “Keeping our promises to our service members, veterans and military families.”

The plan, released Tuesday, emphasizes her family’s history of military service (all three of her brothers served) and touches on her international policy philosophy, “A strong military should act as a deterrent so that most of the time, we won’t have to use it.”

Her proposal covers a broad range of issues that impact military members and families, from raising military pay to eliminating military sexual assault, as well as the policies that impact veterans after their service has ended, such as veteran homelessness.

The plan also goes into depth on education benefits for veterans.

“Over the past 70 years, the GI Bill has helped send millions of veterans to college, easing their transition to civilian life, and contributing to our economic growth,” reads the plan, noting the senator’s previous work to expand GI Bill benefits for Purple Heart recipients and Yellow Ribbon education benefits (which can be used for out-of-state, private or graduate school tuition that the GI Bill doesn’t cover) for families of fallen service members.

Historically, veterans were required to serve at least 36 months of active duty to receive full GI Bill benefits. Today, thanks to a 2017 update of the GI Bill which was originally signed into law by President Franklin D. Roosevelt in 1944, Purple Heart recipients are automatically granted full GI benefits, regardless of the amount of time they served.

But the senator admits that this expansion of the GI Bill can cause headaches for administrators.

“As benefits have increased — and increased in complexity — as a result of GI Bill expansions, VA has scrambled at times to keep up, leaving military students in the lurch,” states the plan, citing Warren’s bipartisan work to minimize the impact of delayed GI Bill disbursements.


Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: abigail hess
Keywords: news, cnbc, companies, military, members, releases, impact, work, bill, warren, elizabeth, plan, benefits, released, education, service, emphasizing, veterans


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Elizabeth Warren blasts Navient, student loan servicer where billionaire Leon Cooperman is stakeholder

Democratic presidential candidate Elizabeth Warren lashed out at billionaire Leon Cooperman on Monday for his stake in student loan servicer Navient and stressed the importance of forgiving student debt. “I care about an entire generation of students being crushed by student loan debt — deferring their American dream because they can’t afford it,” Warren, the senior senator for Massachusetts, wrote in a Tweet. Outstanding education debt has outpaced credit card and auto debt, and the average col


Democratic presidential candidate Elizabeth Warren lashed out at billionaire Leon Cooperman on Monday for his stake in student loan servicer Navient and stressed the importance of forgiving student debt.
“I care about an entire generation of students being crushed by student loan debt — deferring their American dream because they can’t afford it,” Warren, the senior senator for Massachusetts, wrote in a Tweet.
Outstanding education debt has outpaced credit card and auto debt, and the average col
Elizabeth Warren blasts Navient, student loan servicer where billionaire Leon Cooperman is stakeholder Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: annie nova
Keywords: news, cnbc, companies, senior, debt, blasts, stakeholder, student, warren, servicer, leon, elizabeth, wellconnectednavient, navient, education, loan, wrote, wealth, cooperman, wealthy


Elizabeth Warren blasts Navient, student loan servicer where billionaire Leon Cooperman is stakeholder

Democratic presidential candidate Elizabeth Warren lashed out at billionaire Leon Cooperman on Monday for his stake in student loan servicer Navient and stressed the importance of forgiving student debt.

“I care about an entire generation of students being crushed by student loan debt — deferring their American dream because they can’t afford it,” Warren, the senior senator for Massachusetts, wrote in a Tweet. “I’m not afraid to stand up to the wealthy and well-connected.”

Navient is being sued by several states for misleading borrowers. An audit by the U.S. Department of Education last year suggested the company uses deceptive practices.

Outstanding education debt has outpaced credit card and auto debt, and the average college graduate leaves school $30,000 in the red today, up from $10,000 in the 1990s. Default rates are on the rise, and a senior student loan official recently resigned from the Trump administration, calling its lending system “predatory” and “unsustainable.”

Warren plans to pay for her student debt forgiveness plan with a 2% annual levy on accumulations of wealth exceeding $50 million, and an additional 1% tax on wealth over $1 billion.


Company: cnbc, Activity: cnbc, Date: 2019-11-05  Authors: annie nova
Keywords: news, cnbc, companies, senior, debt, blasts, stakeholder, student, warren, servicer, leon, elizabeth, wellconnectednavient, navient, education, loan, wrote, wealth, cooperman, wealthy


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