Wealth redistribution or growth—not both: Sam Zell

 

The United States needs to stop taking its “eye off the ball” on economic growth, in order to stamp out the uncertainty that’s preventing investors and companies from taking risk to make money, billionaire real estate mogul Sam Zell told CNBC on Friday.

“Wealth redistribution” policies in Washington are hampering the economy, he said. “I find it difficult to believe that you can have wealth redistribution and growth at the same time.”

Zell called out fellow “Squawk Box” guest James Bullard, president of the St. Louis Federal Reserve—arguing that the U.S. has accepted a level of growth that over the long term is a real problem. “I don’t see any animal aspirations,” Zell continued. “I think we need to refocus our efforts on growth.” Full Story => HERE

Cross Post & Attribute: By CNBC’s Matthew J. Belvedere

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