Billionaire hedge fund manager John Paulson has shaken the financial world with a bold declaration. During an appearance on Fox Business' "The Claman Countdown," the founder of Paulson & Co. hinted at an exit strategy from U.S. markets if Vice President Kamala Harris wins the 2024 presidential election.

"If Harris is elected, I'd pull my money from the market," Paulson stated. He explained his rationale: uncertainty. "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 turbulence in the markets and likely lower them." 

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It's a bold statement from a man known for turning heads – and making billions by correctly predicting the 2007 housing crash.

Paulson, a key Trump donor, isn't making idle threats. His concerns stem from Harris's proposed policies, which include more government spending and what some critics call “centralized price controls.” 

Economists have crunched the numbers and estimate that Harris’s plans could cost $1.7 trillion. Paulson worries that such policies could disrupt the economic machinery.

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"It depends very much on who is in the White House and who controls Congress," Paulson warned. "If they go through with a 25% tax on unrealized gains, it would lead to massive selling across the board – stocks, bonds, real estate, art. It would trigger a market crash, and we'd look at a recession almost overnight."

Known for his ability to spot trouble ahead, Paulson's words will surely make investors uneasy. He has built a reputation for seeing through the smoke before others smell the fire. So when he says he’s ready to pull out of the U.S. market, people listen.

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At the heart of Paulson's concern is the middle class. During the conversation, he pointed out how much hinges on the upcoming election. "The middle class is key for this election. And it's all about who will do better for them," he said, adding that the average real wage increased by about 6.5% under Trump’s policies. In contrast, under Biden's administration, real wages have declined due to inflation.

In contrast to Paulson's fears, Harris has outlined a detailed plan aimed at boosting the middle class. One of her key initiatives includes expanding middle-class tax cuts to provide relief to millions of families. 

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Harris’s proposal aims to double the standard deduction and increase child tax credits, which she argues will ease financial pressure and promote spending. Additionally, she plans to reduce health care costs and make housing more affordable, policies that are central to her broader economic vision.

But Paulson isn't alone in his critique. House Speaker Mike Johnson echoed his sentiments, warning that Harris’s economic agenda feels like a reality show giveaway. 

“Candidate ‘Comrade Kamala,' as President Donald Trump calls her, wants to take things to a whole new level," Johnson quipped, adding that her plans for first-time homebuyers and grocery price controls would only deepen the country's fiscal problems.

Johnson also laid out a stark contrast between the Republican vision and Harris’s. If the GOP regains control, Johnson promised to stick with the existing tax cuts and prioritize job creation. “We'll ensure that our tax policy respects the dignity of work," he added.

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