If Joseph Biden will become the President of the United States, the stock market will collapse, said the us President Donald trump.

Trump was asked what he thinks of Biden’s proposal to raise tax rates for wealthy entrepreneurs and corporations, given the high level of unemployment in the United States, reports TASS with reference to Fox Business.

Trump said: “Markets crash”. However, he believes that “the index can reach the record early next year or even sooner”, referring to the possibility of his re-election.

The President said that Biden was going to “raise all taxes to increase spending on the stuff that is not working.” According to trump, the Americans will not support such a decision.

As stated by trump, “Democrats want to raise some taxes, ultimately all taxes,” but “it will kill the market, will destroy everything we do, including new jobs.”

He said that in case of victory, Biden election “stock market will be in a state of serpohene and will inevitably collapse”.

“It will be a disaster”, – quotes its words of RIA “news”.