Post-debate Analysis of Harris-Walz Economic Agenda
They call themselves "capitalists." Unfortunately, they're anything but. Here's why: - Harris and Walz are calling for higher taxes on both citizens and businesses.
- They've proposed a ban on "price gouging" at grocery stores.
- And even promised a $25,000 first-time homebuyer credit, among other things.
They're making these promises because, to many Americans, they sound great. But the truth is much scarier. And the data backs this up... For instance, higher corporate taxes would lead to a drop in wages and eliminate hundreds of thousands of jobs as companies cut costs to cover higher taxes, according to an analysis from the Heritage Foundation. Grocery stores are already struggling to stay profitable, with margins already down to just 1.6%. And a homebuyer credit would "translate quickly into higher prices," according to a Moody's economist. As the editor-in-chief of Forbes calculated, these plans would ultimately end up costing our country $10 trillion—per year. (And lest you think I'm only targeting one side... Trump's economic plans are only slightly better. Wharton expects his proposals would add $5.8 trillion to the national debt.) What happens then? Do you really think this will send stocks ripping higher? Or is a stock market crash inching closer with each tick higher in her polling? You'll have to decide for yourself... But consider what many insiders and the smartest investors in the world are doing right now: - Warren Buffett just sold $9 billion worth of Bank of America, along with 389 million shares of Apple.
- Stanley Druckenmiller sold approximately $307 million of Microsoft and $190 million of Nvidia.
- Uber CEO Dara Khosrowshahi has unloaded $70 million of his company's stock.
- Even Christopher Kempczinski, Chairman and CEO of McDonald's, just sold a huge chunk of his company's stock.
Click here to see what I think they're all preparing for. Sincerely, Dan Ferris
Senior Analyst, Stansberry Research | 
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