This presidential race is going to be one of the most consequential in decades. There’s no telling where the final pieces will land.
But now a billionaire megadonor hit Kamala Harris with a brutal reality check.
Billionaire hedge fund manager John Paulson has made it clear: if Kamala Harris manages to defeat former President Donald Trump in November’s presidential election, he’s taking his money out of the U.S. markets.
The Paulson & Co. founder — and a major Trump supporter — dropped this bombshell during his appearance on Fox Business’ The Claman Countdown, on Tuesday.
“It depends on the policy, if Harris is elected I would pull my money from the market,” Paulson stated.
His plan? Cash and gold, a safe retreat from the disaster he foresees under a Harris administration.
“The uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets,” Paulson added.
At the core of Paulson’s concern are Harris’ dangerous, big-government policies, including centralized price controls and a ballooning government spending spree — a set of ideas that could wreak havoc on America’s economy. Economists estimate the price tag of her plans at over $1.7 trillion.
Paulson didn’t mince words when discussing what’s at stake: “It very much depends on who is in the White House and who controls Congress.” He’s gravely concerned about Harris’ tax plans and her reckless economic agenda.
“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 cause a crash in the markets and a pretty quick recession,” Paulson warned.
This is a man who knows markets — famously betting against the subprime mortgage in 2007 — so when Paulson says he’ll sell off his liquid equities if Kamala Harris wins on November 5th, he’s not joking.
Not surprisingly, Paulson has thrown his financial weight behind Trump, hosting a record-breaking fundraiser for the former president in Palm Beach, FL, raising over $50 million in April. But Paulson insists that it’s the middle class that really has the most to lose in this election.
“I think the middle class is key for this election,” Paulson emphasized. “And who’s gonna do better for the middle class. When you look at the facts, the Trump policy had come out better for the average American.”
Paulson’s facts are hard to argue with: “Under [Trump’s] administration of the four years, average real wages grew about 6.5%,” he noted. But the Biden-Harris administration? Not so much. “Under Biden, because of the high inflation, real wages have declined from where they were when he started.”
Paulson touched on what’s really hurting middle-class Americans: inflation, which, despite coming down somewhat, still hinders everyday expenses like rent and food. His solution? “The important thing is keeping it down and to do that you need to bring down the deficit, bring down inflation and bring down the interest rates.”
House Speaker Mike Johnson didn’t hesitate to take shots at Harris’ economic delusions either, referring to her as “Comrade Kamala.” Johnson mocked her far-Left agenda, joking that it’s like “Oprah (Winfrey) is running for president.”
Harris’ misguided plans for her first 100 days include $25,000 in federal down payment assistance for first-time homebuyers and government handouts to lower – and middle-income families. On top of that, her socialist-style price controls on groceries? A recipe for disaster.
Johnson laid out the Republican alternative, a “very aggressive” first 100 days, should the GOP regain control. His focus? Job creation, keeping tax cuts, and a fair tax policy that values work — not laziness. “We will ensure that our tax policy respects the dignity of work and does not pay people more for staying out of the workforce,” Johnson declared.
The battle lines are clear: Kamala’s socialist policies versus Trump’s proven economic leadership. For America’s future — and the future of the markets — this is a fight that matters.
Stay tuned to the DC Daily Journal.
