Cramer's 'Stop Trading': Health Care Plays

Jim Cramer says on Friday's 'Stop Trading!' segment on CNBC that our nation's standard of living will drop if taxes go up.
Author:
Publish date:

NEW YORK (

TheStreet

) -- The standard of living will drop if President Barack Obama's healthcare bill is passed -- or so declared Jim Cramer during Friday's

Stop Trading!

segment on CNBC.

"This bill would have been the greatest thing in the world when I was a reporter and didn't have healthcare," Cramer said Friday on CNBC. But, he speculated, if taxes go up on capital gains and dividends, there will be a rush to sell off stocks. "We have seen that when we have big changes in taxes it creates a sell off. It's no secret that a lot of people who own stocks will get hurt here."

At this point either taxes will go higher or health care bills will go higher, which is why Cramer believer the nation's standard of living is going lower.

In regard to the

Palm

(PALM)

sell off, Cramer said the company must be bought by someone, as it has decent technology.

Cramer said he thinks

Nokia

(NOK) - Get Report

could be a potential buyer. But Cramer said he won't recommend the stock simply because it could be the target of a takeover, as its fundamentals are strained.

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:

>>Cramer's 'Stop Trading': CEO Pay

>>Cramer's 'Stop Trading': Interest Rate Plays

>>Cramer's 'Stop Trading': The Dodd Bill

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.