Sen. Joe Manchin (D-W.V.) criticized President Joe Biden’s proposed 20% minimum tax on billionaires, arguing that unrealized gains like stocks and bonds shouldn’t be taxed.
Sen. Joe Manchin (D-W.V.) said Tuesday he would not support President Joe Biden’s proposed “minimum tax on billionaires,” which would impose a 20% minimum tax on households worth over $100 million and would target unrealized gains, the second time in five months Manchin has opposed the administration’s efforts to realize a dramatic targeted tax increase on the richest Americans.
