A lot of famous people are simply there to provide entertainment while others are considered reliable sources of information.
When certain talking heads make statements on television it causes the audience to take heed.
And now CNBC nearly melted down when one of its hosts dropped this truth bomb about voting for Donald Trump.
“Go with Trump”
CNBC’s Mad Money host Jim Cramer recently said something unexpected to his viewers.
He told his audience if they care about the money in their pockets, they should vote for former President Donald Trump.
“If you’re in the stock market, if you care about your paycheck, you go with Trump. That’s what you do,” said Cramer.
Co-host David H. Faber asked, “You do?”
“Yeah, well, he wants to cut your taxes,” Cramer replied as Faber complained about the SALT tax deduction cap from the Trump administration that affects a large swath of voters in Democrat-controlled states.
Cramer’s on-the-air statements came as the stock market took a massive dive, stoking fears of a potential recession.
The Dow Jones Industrial Average fell 1,033.99 points or 2.6%.
The Nasdaq Composite fell 3.43% and the S&P fell 3% on the same day, with both the Dow and S&P 500 closing on their worst day since September 2022.
CNBC’s long-time host did offer some praise to Vice President Kamala Harris, thanking her for bringing in her brother-in-law, Tony West, as an adviser.
West is a lawyer who served as an associate Attorney General under the Obama regime.
According to Cramer, West is a “businessperson,” which puts him in stark contrast with the lack of fellow business people currently associated with President Joe Biden.
He said, “There was no businessperson really that close to Biden, except for Gina Raimondo, so this is a nice change of pace, a lot of businesspeople surrounding Harris.”
Meanwhile, the Trump campaign is pushing an economic policy that would reduce federal corporate taxes from its current rate of 21%.
Rumors are also swirling that the Trump team has been floating the idea of imposing new tariffs to help make up for that lost tax revenue.
Cramer flip-flops
Although Jim Cramer just told his viewers to “go with Trump” if they care about their paychecks, he had a different view in late July 2024.
During one of his Mad Money episodes, he said that Harris would be a great candidate for investors who want to put their money into tech or international stocks.
“If you’re looking to invest in tech, you want a world where tech has a voice in Washington, not slashed vocal chords under Trump or on mute under Biden, if you own many stocks of international companies and you want to vote your portfolio, Harris is more likely to help than hurt,” he said.
Although Jim Cramer now suggests that certain people vote for Trump, it’s not yet clear whether the former President will make any changes to reduce individual income taxes.
Ironically, President Biden just told reporters that he “cured the economy” just days before the market nosedived.
A reporter asked him what he wanted his legacy for Gen Z to be, and Biden replied, “That I cured the economy. And the environment. And a few other small things.”
US Political Daily will keep you updated on any developments to this ongoing story.
