Just a few short months ago, Stephen Schwarzman compared some of President Obama’s tax plans to Hitler’s invasion of Poland.
Then came reports that the Blackstone (BX) boss was pulling an Alex Baldwin, fleeing Obamaland for friendlier European environs. Such reports were specious — his European sojourn is all about helping Blackstone globalize, and its not like taxes are lower at his Saint-Tropez vacation home — but it still fed into a narrative about how the onetime McCain supporter was… well, was still supporting McCain.
Now it looks like Schwarzman is softening a bit, at least when it comes to Obama’s tax compromise with Republicans.
Earlier today on CNBC, he said that the package could add between .05% and 1% to GDP. “You will have more people with more money. Without taxes going up, you are going to have a variety of different incentives,” Schwarzman added. “I think the economy will respond positively to that.”
Sure it’s basic supply-siderism, but it also sounds a bit like a truce. Here’s the video: