, ,

Biden Mocks Trump & Takes A Cheap-Shot

President Biden playfully poked fun at former President Trump amidst a sharp decline in shares of Trump’s media company, Truth Social, on the stock market. Speaking in Scranton, Pa., Biden used the opportunity to highlight his tax plan’s promise that those earning less than $400,000 annually won’t face additional taxes.

In a lighthearted tone, Biden remarked, “If Trump’s stock in Truth Social keeps dropping, he might actually benefit more from my tax plan,” which drew laughter from the audience. Truth Social’s parent company, Trump Media & Technology Group, experienced significant losses in share value, dropping over 13% to about $23 before the Tuesday market close. Given Trump’s substantial ownership stake of nearly 58% in Trump Media shares, the stock’s performance is of particular interest.

The decline in Truth Social’s stock came after an initially strong debut last month, with shares reaching above $79 on its first day of trading before settling around $62 by the end of the week. This recent drop highlights the volatility and challenges facing Trump’s media venture in the competitive market landscape.

Aside from the stock market jest, Biden also incorporated a humorous anecdote into his speech. He recounted a story about a “defeated-looking guy” who approached him seeking financial assistance due to legal fees, subtly alluding to Trump’s well-known legal battles. Biden quipped that he jokingly responded to the individual, “I’m sorry, Donald, I can’t help you,” which sparked applause and laughter from the audience.

The contrast between Biden’s tax plan and Trump’s business endeavors adds a layer of political commentary to the situation. While Biden emphasized his tax policies benefiting middle-class Americans, Trump’s media venture’s stock performance became a playful subject for political banter.

The event in Scranton showcased Biden’s ability to weave current events and policy discussions with humor, creating a relatable and engaging atmosphere for his audience. It also highlighted the ongoing intersection between politics, finance, and media in today’s dynamic landscape.

Latest News »