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Bloomberg Intelligence
Biden Drops Out, Harris Gains Support
Jul 22, 2024
Nathan Dean discusses Biden's exit and the potential impact of a Harris presidency on investors. Wendy Schiller analyzes political implications, while Christopher Smart focuses on macroeconomics. Andrew Silverman explores tax plans under Harris. Brian Jacobsen gives market reactions to Biden's exit.
43:13
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Quick takeaways
- A Kamala Harris presidency could lead to more progressive tax policies focusing on high-income earners and corporations.
- Shift in Democratic Party leadership alters election probabilities, creating uncertainty in policy environment but sustaining positive economic outlook.
Deep dives
The Impact of Vice President Harris on Tax Policies
If Vice President Harris becomes the nominee, her tax policies are expected to be more progressive, focusing on taxing high-income earners and corporations. Different from President Biden, her background indicates a shift towards a more left-leaning tax agenda, with a focus on consumer protections, disclosures, and increased taxes on big corporations.
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