Stock market would crash under Harris' tax plan, billionaire hedge fund manager warns

Published On Nov 5, 2024, 6:00 AM

Billionaire hedge fund manager John Paulson warns that Vice President Kamala Harris' proposed tax plan could lead to a significant downturn in the stock market. The plan includes increasing capital gains tax from 20% to 28%, raising the corporate tax rate from 21% to 28%, and introducing a tax on unrealized gains, which Paulson argues would negatively affect capital investments and stock valuations. He cautions that such tax increases could have macroeconomic consequences if Harris were to become president in the 2024 election.