El-Erian Says Capital Gains Tax Hike Won't Have Major Impact

The video discusses the complexities of proposed tax changes, particularly the capital gains tax, and their potential impact on the market and economy. While the administration aims for significant changes, the final outcome depends on Congress. The market may experience short-term turbulence, but the changes are not expected to have a major long-term impact. Concerns exist that these changes could trigger larger economic issues, but this is not seen as likely.

What is the general concern about the economic impact of the capital gains tax changes?

According to the text, why are people worried about elevated prices?