Leon Cooperman Says the Coronavirus Crisis Will Change Capitalism Forever and Taxes Have to Go Up

Leon Cooperman said that the support for companies from the government as part of the economic relief packages for the coronavirus are changing capitalism.

by Jesse Pound

Billionaire investor Leon Cooperman said Thursday on CNBC’s “Squawk Box” that the coronavirus crisis will “likely” change capitalism forever and that taxes will need to be raised soon.

“When the government is called upon to protect you on the downside, they have every right to regulate you on the upside,” Cooperman said. “So capitalism is changed.”

The chairman and CEO of the Omega Family Office said the country is shifting to the left and that taxes will have to go up regardless of who wins the presidential election in November.

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