Dems’ Billionaire Tax Proposal in Chaos: Ways and Means Chair Says Plan Scrapped – Senate Finance Chair Says Tax Plan is Not Dead

The Democrats’ so-called ‘billionaire tax’ proposal introduced by Senator Wyden on Wednesday is in total chaos.

A quick recap of what this horrifying tax policy does:

-applies to taxpayers making as little as $25 million, not “billionaires”

-retroactive tax hike on assets held for decades and never sold

-49% double death tax

-backdoor repeal of Opportunity Zones, 1031 exchanges, and gift tax exclusion

The chaos began when Democrat Senator Joe Manchin (WV) refused to jump on board and support the tax plan.

Ways and Means Chair Dem Rep. Richard Neal announced the tax proposal was out of Biden’s plan.

Then Senator Wyden came back and said the billionaires tax is not dead.

A professor at NYU’s Stern School of Business blasted Biden’s tax plan on CNBC Wednesday.

“If I were writing bad tax law, this is what it would look like,” the professor said.



Dear Reader - The enemies of freedom are choking off the Gateway Pundit from the resources we need to bring you the truth. Since many asked for it, we now have a way for you to support The Gateway Pundit directly - and get ad-reduced access. Plus, there are goodies like a special Gateway Pundit coffee mug for supporters at a higher level. You can see all the options by clicking here - thank you for your support!
Photo of author
Cristina began writing for The Gateway Pundit in 2016 and she is now the Associate Editor.

You can email Cristina Laila here, and read more of Cristina Laila's articles here.


Thanks for sharing!