John Paulson, a well-known hedge fund manager in the United States, said in an interview with the media last week that if Harris eventually wins, he will withdraw his money from the market, while Tesla CEO Elon Musk sent a more ominous signal.

Paulson said that market timing and investor timing will depend on who the president is. Paulson is a supporter of Trump and a donor to the Republican Party. There are reports that if Trump returns to the White House, he may appoint Paulson as the new Treasury Secretary.

"If Harris is elected, I will withdraw my money from the stock market. I will hold cash and I will hold gold because I think the uncertainty of the plan they outline will bring a lot of uncertainty to the market and may cause the market to fall," Paulson said in the interview.

Paulson said that Trump and Harris have very different economic plans. He pointed out that Trump wants to extend the 2017 tax cuts implemented during his term, while Harris wants to end them.

He pointed out that Harris proposed to increase the corporate tax rate from 21% to 28% and hopes to increase the capital gains tax rate from 20% to 28%.

Paulson also noted that Harris proposed a 25% unrealized capital gains tax on individuals earning $100 million or more a year.

He predicted that if these policies were implemented, "it would lead to a massive sell-off of almost everything - stocks, bonds, houses, art - which I think would cause a market crash and a fairly rapid recession (in the economy)."

Musk expressed his opinion on this. When a netizen shared a video clip of Paulson's interview on the X platform, Musk commented: "(Warren) Buffett is already preparing for this outcome." This refers to Buffett's Berkshire Hathaway's record cash reserves, which reached $277 billion at the end of the second quarter, and is selling off large stakes in some key investments.

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