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Billionaire hedge fund manager says he would pull his money from the market if Harris wins election

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Billionaire and Trump fundraiser John Paulson said Tuesday he plans to pull his money from the market and put it in cash and gold if Vice President Harris wins the election.

Hedge fund billionaire and major Trump fundraiser John Paulson said Tuesday he will pull his money out of the market if Vice President Harris wins the presidential election this fall, saying the Democrat nominee's economic policies would spook investors. The Paulson & Co.

He also noted that Harris has proposed raising the corporate tax rate from 21% to 28% and wants to raise the capital gains rate from 20% to 28%. The billionaire pointed to Harris' proposed 25% tax on unrealized gains for individuals making $100 million or more, and he predicted that, if implemented, it "would cause mass selling of almost everything – stocks, bonds, homes, art – I think it would result in a crash in the markets and an immediate, pretty quick recession.

 

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