Expiring tax cuts explain billionaires' support for Trump: Expert
Donald Trump's guilty verdict in his hush money trial has brought out a number of prominent figures who have made their allegiance clear. Some of those prominent figures include Tesla CEO Elon Musk (TSLA) and hedge fund manager Bill Ackman. Gautam Mukunda, Harvard Kennedy School research fellow and author of “Picking Presidents,” joins Asking for a Trend to discuss Trump's conviction and the reasons rich supporters are flocking to the former president's side. "The Trump tax cuts, which were massively favorable to people like Bill Ackman and Elon Musk, are expiring in the next couple of years and the only way they will be renewed, given that they are going to cost more than $1 trillion, is if Donald Trump is re-elected. So there is a simple financial calculation." For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Nicholas Jacobino
