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What Is President Obama’s Definition Of Capitalism?


Hint: Jim Cramer thinks he defines it using labor.

How does President Obama define Capitalism? Jim Cramer of CNBC's "Mad Money" answered that question during a very early segment on Thursday's edition of  "Morning Joe." His answer? It has something to do with labor and an anti-rich mentality:

Cramer is a self-made multi-millionaire who also says that he has started five businesses and never once thought of expanding because he could "get a little break on payroll tax."

Cramer was also quite clear on how he feels about the President's proposed American Jobs Act:

(Note: the still frame photo is the same, but the clip is very different.)

Later in the program Mr. Cramer did support some of the President's plan to spend money on roads and bridges, because of what those programs will do in support of manufacturers of heavy equipment and steel makers.

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