December 9, 2021

“I Keep Forgetting You’re Still Alive”

Sheesh! Elon Musk is at it once more. This time he’s aimed his insensitive tweet at Senator Bernie Sanders.

“I keep forgetting you’re still alive,” Musk tweeted Sunday morning. The tweet was in response to Sanders’s tweet that prompt the extraordinarily rich ought to pay their fair proportion of taxes.

“Want me to sell more stock, Bernie? Just say the words…” Musk tweeted shortly after

Musk closed off the week promoting a complete of $6.9 billion price of Tesla shares, which solely amounted to lower than 4% of the shares he holds, and fewer than 3%, together with all of the choices he owns to purchase extra shares, CNN reported.

One factor is for positive, Musk is among the many record of those who qualify below Sander’s description of “the extremely wealthy.” Actually, he’s the world’s richest individual, with a web price of $285 billion, in line with Bloomberg’s Billionaires Index.

When Musk requested Twitter if he ought to promote 10% of his Tesla holdings to pay taxes, 58% of voters responded with a sure. However it’s questionable if Musk will agree with the ballot’s outcomes. He does face a looming tax bill that can be triggered by his have to train 22.9 million choices to purchase shares earlier than late subsequent summer time. The price of doing that can be almost $10 billion at present market costs.

Musk may additionally owe California state revenue tax, which has a max tax charge of 13.3%. Regardless of his transfer to Texas, a state that has no state revenue tax, however he nonetheless spends numerous time working within the state and, subsequently, should nonetheless pay state taxes there.

Sander’s is all for taxing the extraordinarily rich. Because the Senate’s price range committee chair, he has proposed an annual tax on the highest 0.1 % of US households, which he says will increase about $4.35 trillion over the subsequent decade and lower the wealth of billionaires in half throughout the subsequent 15 years. He additionally needs to place in place key enforcement insurance policies on the proposed wealth taxes.

Democrats have continued to attempt to impose a billionaires tax to fund President Joe Biden’s sweeping social security web plan.

“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll,” Sen. Ron Wyden of Oregon tweeted in response to Musk’s Twitter ballot. “It’s time for the Billionaires Income Tax.”