The Democrats’ intent to fund health-care reform through, among other things, higher taxes on investment income will hurt the market, Cramer said Friday. Because every time taxes on stocks go up, a sell-off follows. That’s how it has worked for as long as he’s been on Wall Street.
“I don’t think this time’s going to be any different,” he said.
The debate over health care continued today, as President Obama and the Democratic leadership scrambled to collect the 216 yeas in the House needed to pass a reform bill. A vote is expected this weekend, and the odds right now seem to favor the bill’s passing.
Cramer during Stop Trading! explained what this could mean for the nearly two-thirds of Americans who own stocks. Watch the video for that. Plus, find out who he thinks would make a likely suitor for Palm , which is struggling right now.
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