Why do billionaires feel victimized by Obama? Because they think he should bow and scrape to them

[meow2u3]

One night last May, some twenty financiers and politicians met for dinner in the Tuscany private dining room at the Bellagio hotel in Las Vegas. The eight-course meal included blinis with caviar; a fennel, grapefruit, and pomegranate salad; cocoa-encrusted beef tenderloin; and blue-cheese panna cotta. The richest man in the room was Leon Cooperman, a Bronx-born, sixty-nine-year-old billionaire. Cooperman is the founder of a hedge fund called Omega Advisors, but he has gained notice beyond Wall Street over the past year for his outspoken criticism of President Obama. Cooperman formalized his critique in a letter to the President late last year which was widely circulated in the business community; in an interview and in a speech, he has gone so far as to draw a parallel between Obama’s election and the rise of the Third Reich.

The dinner was the highlight of the fourth annual SkyBridge Alternatives Conference, known as SALT, a convention orchestrated by the fund manager Anthony Scaramucci; it brings together fund managers with brand-name speakers and journalists for four days of talking and partying. The star guest at the dinner was Al Gore, who was flanked by Antonio Villaraigosa, the mayor of Los Angeles, and the New York hedge-fund investor Orin Kramer, a friend of Gore’s and a top Obama fund-raiser.

Notwithstanding Occupy Wall Street’s focus on the “one per cent,” or Obama’s choice of two hundred and fifty thousand dollars as the level at which taxes on family income should rise, the salient dividing line between rich and not rich is much higher up the income-distribution scale. Hostility toward the President is particularly strident among the ultra-rich.

http://www.newyorker.com/reporting/2012/10/08/121008fa_fact_freeland?currentPage=all

Here's why. The ultra-rich think the world owes them a living and Obama won't cater to their whims.

[Laurian]

1. I read that article and it made my blood boil. What a bunch of

assholes! These barons of finance shuffle paper, they do not make a product or serve the common good in any way unless they deign to contribute to charities.....and they usually do that for the tax deduction.

[brewens]

2. Hi "uppityness" and what he MIGHT do. He may actually raise their taxes considerably and he has the

people behind him on that. I think the Robme tax rate has done a lot of damage. For years we would hear that wealthy people were already taxed 50% or more. I knew that was complete bullshit. Along with Buffett and his telling us he pays a lower rate than his secretary, Robme has blown the cover off that.

Right-wingers will have a much tougher time arguing against increasing taxes on the wealthy if Robme get trounced.

[flamingdem]

3. Some billionaires support Obama

and want to pay their share, not many but there are some

[pipewrench]

4. Class War with the curtain pulled back

Amazing and disturbing,