Accountability
Elon Musk says he will pay $11 billion in taxes this year
Earlier this week, Democratic Senator Elizabeth Warren tweeted at Tesla CEO Elon Musk that he should stop “freeloading off everyone else.”
After a few responses, Musk, who is the world’s richest person, tweeted separately on Sunday that he will be paying $11 billion in taxes.
“For those wondering, I will pay over $11bn in taxes this year,” Musk stated. Musk, who was co-founder of the electric car maker Tesla and aerospace manufacturer SpaceX, rose to the status of world’s richest person earlier this year.
Bloomberg Billionaires Index estimates Musk’s wealth at $243 billion, while Tesla is worth roughly $1 trillion, and SpaceX is worth around $100 billion. Musk was awarded the title of Time Magazine’s Person of the Year just last week.
That is what led Senator Warren to tweet, “Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else.” Musk tweeted in response to the senator, “Stop projecting!” with an article linked from Fox News about Warren’s previous claims of being Native American.
“You remind me of when I was a kid and my friend’s angry Mom would just randomly yell at everyone for no reason,” he continued. “Please don’t call the manager on me, Senator Karen.” He finally added later, “And if you opened your eyes for 2 seconds, you would realize I will pay more in taxes than any American in history this year.”
Several senators, including Warren, have backed the concept of not only taxing the income of America’s wealthiest citizens, but also the increasing value of their assets, like shares. Instead of taking a directly taxable salary, many of America’s richest hold their wealth in shares or other investments. They’ll then sometimes take out loans and use those assets as collateral.
Terry A. Hurlbut has been a student of politics, philosophy, and science for more than 35 years. He is a graduate of Yale College and has served as a physician-level laboratory administrator in a 250-bed community hospital. He also is a serious student of the Bible, is conversant in its two primary original languages, and has followed the creation-science movement closely since 1993.
-
Accountability2 days agoWaste of the Day: Principal Bought Lobster with School Funds
-
Constitution2 days agoTrump, Canada, and the Constitutional Problem Beneath the Bridge
-
Executive18 hours agoHow Relaxed COVID-Era Rules Fueled Minnesota’s Biggest Scam
-
Civilization18 hours agoThe End of Purple States and Competitive Districts
-
Civilization4 days agoThe devil is in the details
-
Executive4 days agoTwo New Books Bash Covid Failures
-
Civilization3 days agoThe Conundrum of President Donald J. Trump
-
Executive4 days agoThe Israeli Lesson Democrats Ignore at Their Peril
[…] has sold much of his equity in Tesla and paid taxes on the realized capital gain. In fact he will pay $15 billion in taxes, in consequence to those stock sales, as another user pointed […]