Donald Trump and Carl Icahn.
Photograph by Getty Images
By Lucinda Shen
January 23, 2017

The U.S. no longer has to worry about “dangerous” socialism, according to Carl Icahn.

On Monday, the billionaire investor praised Trump’s inaugural speech and said that the U.S. had dodged a threat to capitalism with the new president. Icahn was an early supporter of Trump’s presidential campaign, and now advises Trump on what Icahn termed “excessive regulation” in U.S. businesses.

It’s not the first time Icahn has warned of a slide toward socialism and advocated for more deregulation.

“We were moving on a fast track to socialism, which I do not believe works,” the billionaire said in a CNBC interview the day after Trump won the elections. “You don’t want big government coming in and saying here’s money, go do this and do that.”

 

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