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Billionaire hedge fund supervisor Stanley Druckenmiller stated he does not have an issue with the next capital features tax.
“I don’t really think capital gains promote investment as much as advertised out there. It’s hard for me to believe that Larry Page, Mark Zuckerberg and Jeff Bezos would have said ‘oh my god, the capital gains is going to be 35% and I’m not going to be trying to found Amazon or Google.’ So I don’t have a problem with it,” Druckenmiller stated on Friday on CNBC’s Squawk Field.
Joe Biden, the front-runner within the Democratic presidential major, stated not too long ago that the present 20% capital features tax is “much too low.”
“The problem with the capital gains hike, and I don’t know the answer to, is that it might not raise that much revenue. and I’m not into something just because it’s fair. But frankly, I think I kind of agree with Biden,” Drunkenmiller stated.
Taxing the wealth has been a theme within the race for the 2020 Democratic presidential nomination. Sen. Elizabeth Warren has proposed an “ultra-millionaire” tax on the wealthiest households in America, and Sen. Bernie Sanders desires to jack up the property tax for wealthy heirs.
He’s former chairman and president of Duquesne Capital and is presently CEO of Duquesne Household Workplace.
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