Cramer: Obama tax plan won’t hurt economy

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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.

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