Cramer: Obama tax plan won’t hurt economy
NBC’s Matt Lauer asked if Barack Obama’s tax policy would damage the economy. Cramer said, “What we need is someone with sophistication. Whoever has the best economic team will do well. I think Charlie’s wrong there. I don’t think it’s tax. I think we’re trying to keep a great depression off the table. either guy is stuck with that. I don’t think any tax program is going to change it.”
In a column in New York Magazine, Cramer has effectively endorsed Obama. Cramer wrote, “And while any president will be an improvement over the current one, there is a growing belief on Wall Street that Barack Obama has the capacity to lead us out of this wilderness while John McCain does not. I’ll go a step further: Obama is a recession. McCain is a depression.”
This video is from NBC’s Today Show, broadcast October 13, 2008.