stock markets: Kamala Harris bad for stock markets, her tax plans are unmitigated disaster, says expert

Kamala Harris is already struggling with various opposition forces trying to corner her and running mate Tim Walz, but she is also steadily striving to increase her popularity ratings among the Americans, and the latest example of the same could be her excellent performance in the recently concluded US Presidential Debate, where she managed to get the edge over her Republican rival Donald Trump. However, a latest revelation by a stock market expert, claiming that Kamala Harris’ tax plans are ‘disastrous’, could go her a long way in pushing serious American investors away from her.

Market expert drops astounding statement

Jason Katz, who is the managing director and senior portfolio manager at UBS, has claimed that Harris’ endorsement of tax plans by the Biden administration is mainly targeted towards the wealthiest Americans, who could be harmed if she came to power and implemented these tax proposals.

Katz called Harris’ economic plans ‘an unmitigated disaster’, and has become a vocal opponent of the Democratic Party’s plans of taxing wealthy Americans heavily, including unrealized capital gains.

Are unrealized capital gains taxable currently?

Unrealized capital gains are those assets which have not been introduced in the stock market yet, or do not have prospects of being transacted or sold in the near future. Their value increases over time, and once they are sold, the value of the asset gets converted into cash, it become taxable as per the appliable laws in the United…