Jim: I keep hearing on various financial cable programs how Obama's redistribution of the tax burden from people making over $250,000 to those making less will be bad for the economy. Yet I've also heard that 70% of our economy is based on consumer spending. If Obama puts more money in the hands of the majority of the consumers in this country (who make less than $250,000), won't that be a big push for the economy, and in turn, for stocks? --Laurence in Iowa
Cramer says: “Everyone hold their ears here because I know this is going to sound really bad and very contrary, but if you make more than $250,000 maybe you should be paying a little more tax. I do, and I’m willing to pay. A lot of people make a lot less than I do and they should be paying less tax.”
Jim: A big ole stu-stu-stu-stu-stuttering ba-ba-ba-ba-ba-ba-oooyah to you...In light of your show forecasting the bottom of housing next year, do you think it would be a wise idea to get into some of the home builders you mentioned, such as KB Homes, Centex and Toll Brothers? Are they on the uptrend? And, if so, which specific one do you prefer? --John in Washington, D.C.
Cramer says: “I don’t want to recommend any homebuilders. I’m just saying that they’re telling you that homebuilding’s going to bottom…what I think is important to point out is that I’m not recommending the stocks. If you have to own a housing stock, you have to own the index (PHLX Housing Sector Index) because I don’t trust most of them.”
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