Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Scaramucci warns unrealised gains tax would devastate US capital markets

by September 7, 2024
September 7, 2024
Scaramucci warns unrealised gains tax would devastate US capital markets

Anthony Scaramucci, former White House communications director and founder of SkyBridge Capital, has warned that a proposed capital tax on unrealised gains could severely damage US capital markets.

In an exclusive interview with Saxo for their US Election Hub, Scaramucci expressed scepticism over the feasibility of the tax, introduced by Kamala Harris, suggesting it would struggle to gain support even within the Democratic Party.

“Listen, that’s never going to happen,” Scaramucci said. “They don’t have enough Democratic votes to pass that. No Republican I know would vote for that. There’s many Democrats that would never vote for that.” He added that if such a tax were introduced, it would have a catastrophic impact on trading behaviour, deterring investment and destabilising the capital market in the United States.

Discussing the current economic landscape, Scaramucci predicted that the Federal Reserve would implement three 0.25% interest rate cuts by the end of the year, barring any catastrophic events. He believes these cuts are necessary to maintain market stability and prevent the US dollar from losing ground in a competitive global landscape.

Scaramucci also commented on the S&P 500’s heavy reliance on the so-called ‘Magnificent 7’—the top tech giants that dominate the index. He suggested that breaking up these companies from an anti-trust perspective could lead to more innovation, drawing parallels to the breakup of the AT&T Bell System in 1984, which he credits with unleashing technological advancements like the internet and social media.

Despite the turbulence in the cryptocurrency market, exacerbated by the collapse of FTX, Scaramucci remains bullish on digital assets. He acknowledged the damage to institutional trust but noted that firms like BlackRock still hold significant investments in Bitcoin, reflecting enduring confidence in the long-term potential of crypto. “I think it’s damaged, but I also think that we have short-term memories,” he said, pointing to the substantial holdings in Bitcoin by ETFs as evidence of crypto’s resilience.

On the broader political landscape, Scaramucci stated that Fortune 500 CEOs generally support Kamala Harris over Donald Trump, a sentiment he attributed to a preference for more predictable and stable governance. He criticised Trump’s leadership, stating, “I was once for Trump, I got to see up close and personal what he’s like. My conclusion was that he can’t be President again.”

Read more:
Scaramucci warns unrealised gains tax would devastate US capital markets

0
FacebookTwitterGoogle +Pinterest
previous post
Richard Caring set to sell the Ivy in landmark £1bn deal
next post
How strong is your business partnership?

You may also like

London’s wages fall 5.6% since 2008, second worst...

March 10, 2025

Felixstowe port workers set for second strike in...

September 13, 2022

Kansino is building a online casino brand in...

October 17, 2023

Duncan Bannatyne, OBE, Joins Assisted Living Project as...

January 9, 2024

Inflation Expected to Stabilise at 2% in 2024,...

April 20, 2024

Social housing reform sees MMC industry respond with...

May 9, 2023

Wetherspoons announces another 11 pubs to close with...

January 27, 2023

Treasury Acknowledges Impending Rise in Inflation

February 12, 2024

UK Companies Slash Hiring Plans Following Reeves’s Tax...

November 25, 2024

Elon Musk to start cutting Twitter workforce

November 4, 2022

London’s wages fall 5.6% since 2008, second worst...

March 10, 2025

Felixstowe port workers set for second strike in...

September 13, 2022

Kansino is building a online casino brand in...

October 17, 2023

Duncan Bannatyne, OBE, Joins Assisted Living Project as...

January 9, 2024

Inflation Expected to Stabilise at 2% in 2024,...

April 20, 2024

Social housing reform sees MMC industry respond with...

May 9, 2023

Wetherspoons announces another 11 pubs to close with...

January 27, 2023

Treasury Acknowledges Impending Rise in Inflation

February 12, 2024

UK Companies Slash Hiring Plans Following Reeves’s Tax...

November 25, 2024

Elon Musk to start cutting Twitter workforce

November 4, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Why Talking to a Real Travel Agent Still Matters in 2025

      June 14, 2025
    • ‘All-in’: GOP lawmakers divided on US involvement as Trump pushes Iran for diplomatic end

      June 14, 2025
    • Democratic lawmakers criticize Israel’s defensive strikes against Iran’s nuclear sites

      June 13, 2025
    • Israel’s drone strikes in Iran show why US must halt China’s land grab here: experts

      June 13, 2025
    • Biden-appointed judge thwarts Trump’s attempt to clean house at consumer safety agency

      June 13, 2025
    • Nearly half of Americans back Israeli airstrikes on Iran, poll shows

      June 13, 2025

    Categories

    • Business (8,206)
    • Investing (2,035)
    • Politics (15,646)
    • Stocks (3,147)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved