A longtime target of critics over his federal income tax payments, billionaire and Tesla chief Elon Musk says he will pay billions in taxes in 2021.
Musk, the founder of Tesla and SpaceX, said in a tweet that he expects to pay $11 billion in taxes this year, a record amount for any one taxpayer.
Musk sold off $14 billion worth of Tesla stock in early November after asking social media followers if he should cash in on the shares.
Musk makes money from his companies off stock awards instead of giving himself a salary. In October, he became the first person in history to have a net worth of more than $300 billion.
“For those wondering, I will pay over $11 billion in taxes this year,” Musk tweeted late Sunday.
Musk faced renewed criticism over his taxes last week when he was named Time magazine’s “Person of the Year.” File Photo by Bill Ingalls/NASA/UPI
Much of the tax bill stems from Tesla stock options he received in 2012, which expire next year.
Musk has been the target of criticism for the amount of taxes he’s paid over the past several years relative to his wealth. A ProPublica report in June said he paid about $140,000 in federal taxes in 2015 and 2017, and none in 2018 — while his wealth grew by $14 billion between 2014 and 2018.
Musk faced renewed criticism last week when he was named Time magazine’s “Person of the Year.”
“Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else,” Sen. Elizabeth Warren, D-Mass., tweeted.
Musk replied, “If you opened your eyes for 2 seconds, you would realize I will pay more taxes than any American in history this year.”
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“Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else,” Sen. Elizabeth Warren, D-Mass., tweeted”. Elizabeth, let me give you a quick math lesson! The top 20% of earners pay 86% of the income tax. The people, who have been on welfare their whole lives pay zero percent income tax, so the people on welfare are being subsidized by the rich / job creators and the people on welfare, since they pay no income tax, are the “freeloaders” and parasites living off of those of us who work for a living. How is that for your “math lesson”, Elizabeth?
It’s bad enough inept dependent people pay no taxes, but just raise the taxes of productive wealth creators in their own inability or refusal to govern their own lives or even just get out of other people’s way. They cannot stand the smell of Musk because it is the sweet smell of a success, they will never be able to produce in their self-imposed cowardice, too fearful to take normal human risks that just leave them in the trees vegetating, too timid to come down on the plain and hunt for their own red meat. Those who shall not work, neither shall they eat. Those who neither pay nor contribute to paying taxes, neither shall they be allowed to vote, nor be able to run for office, nor qualify for scholarships designed for real native Americans.
How’s about we change the tax code, SO EVERY ******* POLITICIAN PAYS their fair share!!! and then some.. STOP letting them enjoy the tax havens THEY WRITE into law!
Hey, Liz Warren—sounds like a fair share and then some to me.
So just how does a person of questionable charachter and native American heritage, be able to buy a $3 million Victorian in Cambridge, Massachusetts, and an $800,000 condo in Washington, D.C on a measly government salary? Maybe she should liquidate some of the millions she has made on insider trading and pay HER fair share. Martha Stewart went to jail, how does she avoid it?
BECAUSE like all other dems, the laws never seem to apply to them!
Not only does he pay taxes, but also the thousands he employs ,,until Joe and the Democrat pay them more to stay home than work, while raising the cost of everything else.
“Let’s change the rigged tax code so The Person of the Year will actually pay taxes and stop freeloading off everyone else,” Sen. Elizabeth Warren, D-Mass., tweeted.
Musk replied, “If you opened your eyes for 2 seconds, you would realize I will pay more taxes than any American in history this year.”
To Democrats, Truth, Facts, Reality and History are all irrelevant,
If the Democrats do not WANT to believe them.
Democrats will just make up their own Truth, Facts, Reality, History or voter tally to fit what they WANT to believe or fits into the Con or Deception that they are running at the time.
IMO it wouldn’t matter if they DID open their eyes.. THEY ALL LACK A bloody brain!
It is liberals and progressives like Warren that helped Elan Musk accumulate his wealth in the first place. Pushing taxpayer funded subsidies to lower the price of his cars for well-to-do virtue signalers while the rest of us worked extra to fund this transfer of wealth. Now they are helping Musk further with higher gas prices and the taxes on gasoline that fund road maintanence. His b1!&^ is that others are getting handouts to compete with him. Seems like Warren is making sure rebel kleptocrat Musk still knows who his master is.
Musk is playing us for fools in his battle with other kleptocrats for greater access to our wallets. No matter what he says, the left won’t give up on their authoritarian “green” dreams. By insulting them, he gains favorable press for the group he needs in an evenly divided nation.
Need proof? Look up all the criticism he has leveled at the Chinese Communist Party.