"John Paulson, a hedge fund billionaire and prominent Trump supporter, announced that he would withdraw his investments from the market if Vice President Kamala Harris wins the upcoming presidential election. During an interview on FOX Business, Paulson expressed concerns over Harris’ economic policies, which he believes could lead to widespread market instability.
"He emphasized that her proposed tax increases would lead to significant sell-offs and potentially trigger a recession. Paulson stated, “I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated.”
Key Facts:
- John Paulson, a major Trump fundraiser, stated he would pull his money out of the market if Kamala Harris wins the presidential election.
- Harris has proposed raising the corporate tax rate from 21% to 28% and increasing capital gains taxes.
- Paulson is particularly concerned about Harris’ plan to tax unrealized gains for individuals making $100 million or more, predicting this would lead to mass sell-offs.
- Paulson highlighted that Trump’s economic plans, including extending the 2017 tax cuts, are vastly different from Harris’ policies.
- He suggested that market uncertainty under Harris would cause him to invest in cash and gold instead.
The Rest of The Story:
"John Paulson, known for his massive profit from predicting the subprime mortgage crisis, voiced strong concerns over the potential impact of a Kamala Harris presidency on the U.S. economy. Appearing on FOX Business’ “The Claman Countdown,” Paulson outlined his fears that Harris’ proposed tax policies, particularly those targeting high earners, would cause instability in financial markets. He pointed to Harris’ plan to raise the corporate tax rate to 28% and her push for higher capital gains taxes as signals of what he sees as an economically damaging agenda.
“ 'I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated,” . . .
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