Mnuchin: Taxing Billionaires Could Have ‘Unintended Consequences’

Former Treasury Secretary Steven Mnuchin said he opposed the Democrats’ new plan to tax billionaires to help pay for their massive social spending bill, Bloomberg reported Wednesday.

Mnuchin was asked about the progressives’ tax proposal while at an investment conference in Saudi Arabia.

“I’m generally in favor of simplifying the tax system and making sure the appropriate taxes are collected,” Mnuchin said, Bloomberg reported. “But when you talk about targeting one segment of the population in a very specific way, I worry about the unintended consequences.”

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