Jim Cramer: What Joe Biden's Tax Plans Could Mean for Wall Street

Katherine Ross

Joe Biden, the Democratic Presidential nominee, told potential donors to his campaign that he would end most of President Donald Trump's $2 trillion dollar tax cuts. He added, "a lot of you may not like that."

A Wall Street Journal reporter's press pool reporter quoted Biden saying, "Folks, this is going to be really hard work and Donald Trump has made it much harder to foot the bill."

According to CNBC, Biden reportedly continued, "I'm going to get rid of the bulk of Trump's $2 trillion tax cut."

This comes after Biden, in early June, criticized Facebook.

"Over the past year, the Biden for President campaign has called on Facebook to meet the commitment the company made after 2016 -- to use its platform to improve American democracy rather than as a tool to spread disinformation that undermines our elections," the letter wrote. "But Facebook has taken no meaningful action. It continues to allow Donald Trump to say anything -- and to pay to ensure that his wild claims reach millions of voters. SuperPACs and other dark money groups are following his example."

Jim Cramer weighs in on what Wall Street needs to think about when it comes to a Biden candidacy.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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Comments (4)
No. 1-4

thanks for the info!


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julie iannuzzi
julie iannuzzi

Jim doesn't talk politics often! I'm watching..