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Senator Joe Manchin (D-WV) has consistently proven to be a nemesis to the Democrats’ radical agenda. The West Virginia centrist has refused to sign onto the ‘nuclear option’ of ending the Senate’s filibuster rules, thereby halting such extreme measures as the Democrats’ planned federal takeover of U.S. elections.
On Tuesday, the senator put an end to Biden’s proposed tax on millionaires’ unearned income, which has been roundly criticized by tax experts and by the administration’s critics.
Biden’s plan was projected to raise $360 billion in revenue by imposing a 20 percent minimum tax on billionaires. The president formally unveiled the measure in his budget request to Congress on Monday.
The Hill reported that “Manchin says he doesn’t support the president’s plan to tax the unrealized gains of billionaires, which would set a new precedent by taxing the value an asset accrues in theory before it is actually sold and converted into cash.”“You […]
Read the rest of this story here: beckernews.com
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