While the plan has yet to be finalized, it would tax billionaires annually on any increase in the value of their assets, like stocks and real estate. The tax would apply to individuals with assets in the billion-dollar range and those with annual incomes greater than $100 million over a three-year period.
Foot in the door folks. A billion this year, becomes a million next year, becomes 1000 the year after and finally any increase you have in your assets. You pay this increase each year so it goes up porportionally with inflation. ABSOLUTE BULL CRAP.
If yo confiscated it all you couldn’t pay for Rat dreams !
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Manchin was always going to fold, but WH Chief of Staff angered him when he publicly said that Manchin always does this. before Voting for Dem Legislation.
Make no mistake, Manchin is folding, Again.
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Just like the federal income tax.
Circa 1914 it was “only” a tax of 1 - 2% on millionaires.
Look what THAT has evolved into over the years.