In a striking revelation, Republican megadonor and hedge fund billionaire John Paulson has made it clear that a Kamala Harris presidency would send him scrambling for safety, pulling his money out of the stock market due to what he describes as “uncertainty” surrounding her economic policies. This isn’t just a casual observation; it’s a clarion call for anyone paying attention to the implications of the Biden-Harris administration’s tax plans.
In an interview with Fox Business host Liz Claman, Paulson, founder of Paulson & Co., outlined the stark contrast between the economic visions of Donald Trump and Kamala Harris. He pointedly criticized the Biden-Harris administration’s intention to raise the corporate tax rate from 21 percent to 28 percent and the capital gains rate from 20 percent to a staggering 28 percent.
“The difference between the Trump administration and Harris is very, very different,” Paulson stated.
He elaborated on the specifics, noting, “Trump is — wants to extend the current, very successful tax policy, which was implemented in 2017. The Biden-Harris group, on the other hand, wants to change that. They want to change the corporate tax rate from 21 to 28 percent, they want to raise the capital gains rate from 20 percent initially to 39 percent now, they flip-flopped back to 28 percent.”
Now, after seemingly rushing to implement their agenda, the Biden-Harris administration is facing pushback not just from the public but from influential figures like Paulson. When asked about the potential for future investments, Paulson made it clear that the upcoming election would weigh heavily on his financial decisions.
“Well, I would say it very much depends on who is in the White House and who controls Congress,” he explained.
This statement raises a critical question: why should the American people trust a leadership that seems intent on flipping the script on successful policies? Paulson expressed deep concern about a Harris presidency, particularly regarding her proposed tax plans.
“I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated. You alluded to the tax on unrealized gains — if they do implement a 25 percent tax on unrealized gains that would cause mass selling of almost everything. Stocks, bonds, homes, art. I think it would result in a crash in the markets and a immediate, pretty quick recession,” Paulson asserted.
It’s hard not to see this as a politically charged warning. Could it be that the Biden-Harris administration is so out of touch with economic realities that they would jeopardize the financial security of countless Americans? The implications are staggering.
When Claman pointed out that people pulled their money out of the stock market during the tenures of both Barack Obama and Donald Trump, despite the markets rising under their administrations, Paulson reiterated his stance.
“It depends on the policy,” he said.
The bottom line is crystal clear:
“I think if Harris was elected, I would pull my money from the market. I’d go into cash and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets,” Paulson concluded.
In a political landscape riddled with uncertainty, Paulson’s warnings should serve as a wake-up call. The stakes are high, and the implications of a Harris presidency could reverberate throughout the economy, affecting not only the wealthy but everyday Americans as well. As we approach the 2024 election, one must ask: is this the direction we want for our country?
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
