Senator Joe Manchin (D-WV) has consistently proven to be a nemesis to the Democrats’ radical agenda.
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 can’t tax something that’s not earned. Earned income is what we’re based on,” he told The Hill. “There’s other ways to do it. Everybody has to pay their fair share.”