FYI: Politics and religion: two touchy subjects to be avoided in social situations. The latter would seem to matter less these days, given the rise in the number of “nones” who don’t identify with any religious group. But with the former, the divide between parties has rarely been as wide, or as acrimonious.
It’s no wonder, then, that politics are becoming increasingly infused into investors’ view on the financial markets. Leon Cooperman has taken on Sen. Elizabeth Warren (D., Mass.), one of the leading contenders for the Democratic presidential nomination, who has championed a wealth tax—now with a top rate of 6%, instead of her originally proposed 2%—to finance her ambitious political agenda, notably Medicare for All.