By CCN: These days, billionaire hedge fund titan Mike Novogratz is known more for his rabid Bitcoin pumping than his Wall Street wizardry. However, in a new CNBC interview, he channeled his inner Bernie Sanders to champion another of his passions: wealth redistribution.
Novogratz, Bernie, & AOC Find Surprising Common Ground
During an appearance on Squawk Box today, Novogratz commented on America’s income equality gap and declared that we need a “redistribution of wealth.”
The Galaxy Digital chief believes that one way to do that is to levy taxes on Wall Street. He echoes sentiments not commonly heard these days among the money-centric investment culture, but rather from leftists like Alexandria Occasio-Cortez, Andrew Yang, and yes, Bernie Sanders.
“I think you need redistribution of wealth, there are a lot of different ways you can do that. I think a Wall Street tax is an interesting one.”
Bernie Sanders, for his part, introduced a bill that would tax stock, bond, and derivatives trades at 0.005% to 0.5%.
Wealthy people are increasingly concerned about the potential powder keg posed by the colossal divide between the rich and the poor. The situation has regressed from a perceived “golden age” in the 1950s and 60s, when upward mobility and middle-class wages were abundant, to an absurd reality where many CEOs earn in a day what their janitors will make in several months.