Donald Trump is moving too fast, alienating allies, making Americans poorer, and tarnishing the sterling reputation of US assets, Citadel CEO and founder Ken Griffin said Wednesday.
Though the president may have identified real problems, his methods to solve them donāt appear to be working, and are unlikely to revive American manufacturing, Griffin told Semaforās Gina Chon at the World Economy Summit in Washington, DC.
Previously, Griffin said, āno brand comparedā to US Treasurys, the strength of the US dollar, or the nationās creditworthiness. But Trumpās tactics have āerodedā that reputation.
The change handed out by billionaires as philanthropy is PR to keep them from paying their fair share in taxes. Calling them a parasite class is completely accurateā they couldnāt have earned that much wealth without exploiting both the laborers who created it and the society that their extreme horde inherently destabilizes. If they paid their fair share in taxes, then their donations would be appreciated.
I think it would be pretty naive to think the US government would spend it any better.
I think itās pretty naĆÆve to think that oligarchs are benevolent, and at least we have a say on how government money gets spent.
What we have now is billionaires rigging the system in their favor; like I said, that kind of wealth disparity is inherently destabilizing to society, and they accumulated it through exploitation.
Finally, if the people could spend the money better than the government, why do we have taxes at all? Itās because there are things that we need to address as a society instead of relying on charity that may or may not come.