NEWSPresident Joe Biden Mocks Donald Trump's Financial Woes After Truth Social's Stock Loses $5 Billion in Value
President Joe Biden took a dig at former President Donald Trump over the plummeting stock price of Trump Media, the company behind Truth Social, during a recent campaign speech in Scranton, PA.
The taunt came amidst a steep decline in the stock value of the newly-merged Trump Media and Technology (DJT) company, which began trading on the NASDAQ stock exchange last month.
President Joe Biden mocks Donald Trump.
The stock initially surged in value, only to sharply plummet by 21.47% after negative financial disclosures, and has since continued to drop, now totaling almost a 68% decrease since its debut. This significant decline has resulted in paper losses amounting to $5 billion.
During his speech, President Biden used the opportunity to not only jab at Trump over the stock downfall but also to advocate for tax fairness.
"We’re not asking anything that’s unusual," he told reporters. "Under my plan, nobody earning less than $400,000 will pay an additional penny. I hope you’re all able to make 400,000."
"I never did," he clarified. "But they’re not going to pay an extra penny in federal taxes. That’s a promise. Nobody. Not one penny."
Joe Biden comments on Trump's floundering Truth Social stock.
"You know, I have to say, if Trump’s stock in the Truth Social, his company, drops any lower, he might do better under my tax plan than his!" Biden joked poking fun at his political opponent's financial struggles. "It's possible."
"Folks, look. I want to cut tax on the hardworking folks here in Scranton and all across the country, and climb out where I move from Scranton to Claymont and Delaware all across the country."
Joe Biden is running for reelection in 2024.
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Biden's mocking of Trump's financial troubles is part of his escalating "jugular" strategy, where he has been publicly critiquing Trump's age, golf game and now his money woes.
The President has incorporated these jabs into his recent fundraising events and speeches, resonating with his audience through humor and relatability.
The Truth Social stock has lost an estimated $5 billion in value.
In a recurring bit, Biden humorously describes a "defeated-looking man" who turns out to be Trump, lamenting his financial losses.
The President's sharp wit has been well-received by his supporters and is shaping his campaign strategy leading up to the upcoming elections.
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According to Real Clear Politics, Trump is polling at 45.6%, only 0.2 points ahead of Biden among likely voters.
The numbers look even worse for Biden when you focus on the swing states, where Trump leads by three to six points in six out of the seven battleground areas. The president's biggest disapproval numbers revolve around his handling of the southern border and his handling of the conflict between Israel and Palestine.
