Biden mocks Trump: If Truth Social drops lower, he might benefit from my tax plan

President Biden mocked former President Trump as shares of his media company fell sharply Tuesday on the stock market.

Biden, during remarks in his hometown of Scranton, Pa., was touting his tax plan and highlighting his vow that nobody earning less than $400,000 will pay extra in taxes under it.

“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,” he said to laughter in the audience. “It’s possible.”

Trump Media & Technology Group, the parent company of Truth Social, has suffered steep losses in the stock market after a strong debut last month, with shares rising above $79 on its first day of trading and settling around $62 by the end of the week. Truth Social’s share price had fallen more than 13 percent to roughly $23 shortly before the Tuesday closing bell.

The former president owns close to 58 percent of Trump Media shares.

Trump Media announced plans earlier Tuesday to launch streaming options, including live news and programming from religious shows to family-friendly shows, CNN reported. 

When asked for a response to Biden from Truth Social, the company said in an email: “Seeing as President Joe Biden regularly posts to his campaign account on Truth Social, we have faith he sees the value of a free-speech social media start-up that has no debt and more than $200 million in the bank.”

Also in Scranton, Biden repeated a joke that he has used to hit Trump over his legal fees.

Biden told supporters that a “defeated looking guy” came up to him asking for help because he was in debt. He joked that he replied, “I’m sorry, Donald, I can’t help you,” to applause and laughter from the room.