TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer says that when it comes to tax reform, the battle hasn't even started yet and it's highly unlikely that tax reform can be accomplished by the year's end.
Cramer said that on top of the challenge of getting any Democrats to vote for the plan, it's "inconceivable" that all Republicans will even vote for the plan despite what Republican House Speaker Paul Ryan has to say. "We lack anything that I would regard as specific enough to be able to pass it," Cramer said.
Additionally, Cramer countered the idea that it is easier to raise taxes than reform healthcare. "If you're a Republican legislator, would you really vote for a tax increase for your people?" Cramer asked. "Why would you commit political suicide by going with Ryan?"
Those who think a tax reform plan that's sparse on details will sail through are "gravely mistaken," Cramer said.
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Editors' pick: Originally published Sept. 28.