Stock market would crash under Harris' tax plan, billionaire hedge fund manager warns
Story by Kristen Altus • 3h
Billionaire hedge fund manager on the Harris policy that will 'cause a market crash'
A potential Trump nominee for U.S. Treasury secretary, who also happens to be a billionaire hedge fund manager, has explained how Vice President Kamala Harris’ tax plan could send markets into a quick plunge.
"In the early parts of her campaign, she was supportive of the tax on unrealized gain
. And if that was implemented, I think it would be devastating for the markets and cause a market crash," Paulson & Co. President and founder John Paulson said on "Cavuto: Coast to Coast," Monday.
"Harris says she wants to raise taxes on capital gains from 20% to 28%. The corporate tax rate, she wants to go from 21% to 28%, Paulson added. "But the one big one, she wants to tax unrealized gains."
The Trump ally previously joined Fox News on Thursday where he made the pitch to work alongside Elon Musk and cut the national deficit by $2 trillion.
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