Jim Cramer was on MSNBC’s Morning Joe this morning, where he proclaimed that people are against healthcare because it means tax increases. Cramer said “This is all about taxes…when they hear healthcare reform it just means tax increases.” Cramer also said that everybody wishes Obama would go away for a bit.
Here is the video courtesy of Think Progress:
On healthcare Cramer said, “I think that Americans, these are all sub rosa issues. This is all about taxes and there is a belief that until the economy recovers we simply can’t afford tax increases a la what happened in 1937 in this country, and when they hear healthcare reform, it just means tax increases, and there’s gotta be someone who pays for it…until we get the economy moving I think everybody wishes that Obama would just go away for a bit.”
Cramer is buying into the GOP talking point that concern about the budget deficit equals opposition to healthcare reform. The problem with this flawed logic is that in the very same poll, people also support Obama’s heathcare reform plan by a margin of 44%-34%. Obama also has a 57% approval rating on his handling of the economy, and a 63% approval rating.
It is a smart strategy to try to tie healthcare reform to the budget deficit. Why is Cramer backing the GOP here? Cramer is market guy, and the last thing Wall Street wants is costs to be reigned in on the healthcare and pharmaceutical industries. These are profit making sectors. Cramer doesn’t care about what’s best for America. He is only concerned with what’s best for Wall St.
When Jim Cramer states that everybody wants Obama to go away for a while, the everybody which he is referring to is Wall Street. After the way Wall Street helped run the economy into the ground, if they want Obama to go away, then I definitely want him to stay. Wall Street can’t be trusted, and I don’t mind having Obama around to crack the whip a little.