Vice President Kamala Harris supports President Biden’s proposal to increase taxes on unrealized gains for the wealthy. Financial author Robert Kiyosaki warns of an impending market crash, urging investments in gold, silver, and bitcoin for safety. Economist Peter Schiff calls for higher interest rates, even at the risk of triggering a recession. Meanwhile, bitcoin ETFs continue to perform well, although ether ETFs see a decline. Franklin Templeton expands its tokenized money market fund to the Avalanche network.
Harris Backs Plan to Tax Unrealized Gains, Kiyosaki Says Prepare for Crash Landing, and More — Week in Review
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Insiders Report Kamala Harris Backs Biden’s Plan to Tax Unrealized Gains
As Kamala Harris eyes the presidency, reports highlight the Harris-Walz campaign’s backing of President Joe Biden’s budget proposal. This plan seeks to raise capital gains to 44.6% and introduces a 25% minimum tax on unrealized gains for Americans with over $100 million in wealth. Harris is also targeting an increase in the corporate tax rate, planning to bump it up from 21% to 28%.
Robert Kiyosaki Advises Preparing for Crash Landing — Says ‘Time to Save Yourself’
Rich Dad Poor Dad author Robert Kiyosaki has explained why he is preparing for a crash landing. He criticized U.S. leadership, including Vice President Kamala Harris, Treasury Secretary Janet Yellen, and Fed Chairman Jerome Powell, calling them “3-Stooges.” Kiyosaki advised his followers to invest in gold, silver, and bitcoin, emphasizing self-reliance over relying on the Federal Reserve.
Peter Schiff Urges the Fed to Raise Rates and Let Markets Crash
Economist and gold advocate Peter Schiff has recommended that the Federal Reserve raise interest rates instead of cutting them, even if it leads to a market crash. He acknowledged that this approach would likely cause stocks and real estate to crash, result in a hard landing, and trigger a recession, emphasizing the potential severity of these market consequences.
Bitcoin ETFs Extend Winning Streak as Ether Funds Slip Into Red
On Thursday, U.S. spot bitcoin exchange-traded funds (ETFs) continued their winning streak for the sixth day in a row, amassing $64.91 million. Meanwhile, the nine spot ether ETFs experienced a modest outflow, losing $874,610.
Franklin Templeton Expands Tokenized Money Market Fund to Avalanche Network
Franklin Templeton has extended its blockchain initiatives by launching its tokenized U.S. Government Money Fund on the Avalanche network. This move marks another expansion of the firm’s onchain financial products.
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