Cramer's 'Stop Trading': Verizon, AT&T

NEW YORK (TheStreet) -- Democrats are pushing for a $150 billion financial transaction tax, which would add a tax to the sale and purchase of financial instruments such as stocks, options, derivatives and futures -- and while Jim Cramer said during his "Stop Trading" segment that he doesn't like tax hikes, he does favor anything that can create jobs.

The 0.25% tax hike isn't a call for alarm, Cramer said. "The right doesn't want to hear about tax hikes, but look at the mess we are in ... I can handle 20%." (Cramer later responded to critics of his position in a posting on RealMoney.com.)

Cramer also looked at Verizon(VZ Quote) and AT&T(T Quote), which are seeing tremendous demand for their bonds.

These telecommunication companies, Cramer said, have high dividends and are good yielders. "I like dividends not to be exciting," Cramer said. "And these to fulfill the wish to get some income."

Both stocks have been weak, making Verizon and AT&T purely yield plays, he advised.

-- Reported by Jeanine Poggi in New York

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