By Kristen Altus | Fox Business
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[s]. 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.”