Elizabeth Warren calls him “a freeloader.” Democrats are stupid enough to believe her.
America needs more Elon Musks and fewer Elizabeth Warrens.
America needs more Elon Musks and fewer Elizabeth Warrens.
#1 Largest Individual Taxpayer in American history.
- Thread starter Phenomenally Frantastic
- Start date
He realized capital gains to sell ownership in Tesla and use the proceeds to help finance his purchase of Twitter.
It wasn’t a move to minimize his taxable income.
I believe it. When you are pulling in $20 billion (or whatever it is, I don't actually know but it's a lot) a year for over 10 years even at our pathetically low top tier tax rates he's going to pay what would be a lot of money for just about anyone else on the planet, except like, 3 other people.
It's more of a testament to how much money he brings in every year than anything else. A less regressive tax system would have had him pay 2 to 3 times that in tax money. Remember, he's worth almost $300 billion dollars. He could end up being the world's first trillionaire.
Nobody recognizes all of that as income though unless they have a god awful CPA or they have a Tony Montana sized cocaine problem.
Or you want to spend billions buying Twitter.
It’s been explained to you, whether you can accept reality is on you.
I get that most of his net worth is in assets and stocks so it's hard to say what his actual income is. You are probably correct. Maybe he's including capital gains taxes or something. I have no idea. I don't have any experience with that kind of money so I don't know what they do.
I believe the point is he has years when he has to do things with his stock that trigger huge tax bills. And then other years where he pays next to nothing in federal income taxes (as in less than we do). But in the whole I’m pretty sure this is not a made up number.
