Greene, who became a billionaire by betting against the housing market during the financial crisis and later ran as a Democratic Senate candidate in Florida, said raising taxes on the wealthy and investing in education and training would help reduce inequality. But he said a bolder solution would be for the government to take advantage of low borrowing costs and add $1 trillion in debt to fund construction of roads, bridges, underground pipe systems and schools.
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"If we added an extra trillion to national debt, we could rebuild these underground pipes and schools and hospitals and give hope to people," he said. "That would get the country through this difficult period. And it would help make the U.S. more competitive again."
He admitted that the borrowing might make some politicians balk. But he said, "Sure $1 trillion is a lot, but it's not a lot relative to the total debt" of around $18 trillion.
Greene also advocated an increase in the minimum wage. He said the current federal minimum wage of $7.25 an hour is cruel.
"If you think about $7.25 an hour, that's $290 a week," he said. "It's inhumane to have that kind of wage."