Dark scenario from Goldman Sachs: Kamala Harris could cause a 5% drop
A significant assessment came from Goldman Sachs regarding Kamala Harris' proposed plan to increase corporate taxes in order to increase state revenues and close the financial deficit. Bank analysts warned that such a development could cause a decrease of around 5% in the earnings of S&P 500 companies.
Goldman Sachs published an important analysis regarding the proposal to tax corporate profits more, proposed by Democratic Party presidential candidate Kamala Harris in the US last month.
The institution, one of the largest investment banks in the US and the world, stated that the tax planned to be increased from 21% to 28% could deal a blow of around 5% to S&P 500 companies. Analysts also wrote that imposing a tax on foreign-sourced income and increasing the minimum tax from 15% to 21% could increase this blow to 8%.
It was recently stated that this corporate tax proposal was behind Trump's return to Harris' lead in the polls.
Bitcoin's price, which has been correlated with the S&P 500 and Nasdaq for a long time, may also be negatively affected by all these developments.
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