The Biden administration has caused massive damage to our nation. However, without Sen. Joe Manchin (D-WV) in Congress, everyone might be a lot worse off.
Last year, Manchin stood up to Biden and refused to support the Build Back Better Act. The West Virginia Democrat stated it was too expensive and not appropriate, given our historic debt.
The president has tried to make Manchin change his mind and provide the one vote he needs to pass his outrageously expensive federal giveaway. But the senator persists in his refusal to injure the U.S. economy and the American people any further.
Days ago, the president came out with new legislation that would impose a minimum income tax of 20% on individuals worth over $100 million, along with taxes on unrealized gains.
In the wake of this, Manchin has come out, saying he’s not on board with this plan, as was recently reported by The Blaze.
Reviewing Manchin’s Problem with Biden’s New Tax Proposal
Earlier this week, the West Virginia lawmaker stated he’s not onboard with taxing unrealized gains. Manchin said that’s not what the taxation system is built on. Rather, he explained, our system of taxation taxes income that has already been earned.
Later, the Democrat stated that while everyone has an obligation to pay their fair share, taxing unrealized gains is the wrong approach.
Manchin’s opposition is already being slammed by progressives. Far-left Democrats are claiming the senator’s opposition isn’t really a moral objection, but that he is simply pursuing his own special interests.
Amazingly enough, this is the same thing Democrats said last year when Manchin finally announced that he wouldn’t be voting for the Build Back Better agenda.
Another Repeat of the Build Back Better Act?
It is a given that Biden’s tax hike proposal is not going to win the support of Republican senators. This means that, even if the House passes the legislation, Biden will still need every single Democrat in the Senate to support his 20% minimum income tax plan.
At this time, since Manchin’s come out against the bill, the most support that Biden can hope for in the Senate is 49, which is not enough for the legislation to make it through Congress and reach his desk to be signed into law.
At the rate things are going, Biden’s tax plan seems likely to reach the same fate as his Build Back Better Act. The president might want to start preparing himself for this all but inevitable outcome.