Elon Musk to Congress: Drop the billionaire tax. It will only mess with 'my plan to get to Mars'

[Yo_Mama_Been_Loggin]

Elon Musk, the world's richest man, took to Twitter overnight to savage the so-called billionaire tax proposal that's dividing Washington over ideological lines and is dominating the discourse on social media too.

The tax idea, which would target the 700 richest U.S. taxpayers, was dreamed up to finance President Joe Biden’s $2 trillion “Build Back Better” campaign, which carries a number of historic investments around childcare, education, health care, and combating climate change. The Democrat-led proposal, though, is facing stiff blowback in Congress—not just from Republicans but also from more moderate Democrats.

The thorniest part of the "billionaire tax" is a 23.8% tax rate on the long-term capital gains on tradable assets. As it currently stands, it would be levied only on billionaires who either earn more than $100 million in annual income or have $1 billion in assets. It would be a radical rewrite of the tax code, which currently taxes assets like shares in companies only when they're bought or sold. The new policy would treat billionaires’ fortunes like business income, and tax their assets on a mark-to-market basis each year.

Such a move would hit hard tech titans like Musk, Amazon founder Jeff Bezos, and Facebook’s Mark Zuckerberg.

-more-

https://finance.yahoo.com/news/elon-musk-congress-drop-billionaire-105026203.html

[aocommunalpunch]

1. I'm guessing the answer is

"Thank you, sir! May I have another?"

[Jerry2144]

2. It's such a terrible thing that

They won’t be able to afford a one thousand foot long yacht and will have to settle for only a 990 foot long yacht. I really feel such sorrow thinking about it.


Do I sound properly sincere?

[Bluethroughu]

9. Horrible...pass the smelling salts

[blueinredohio]

3. Send his ass to Mars and leave him there.

[a kennedy]

4. and damn it fawk him.......

[live love laugh]

5. I don't understand why people buy from him given his assholery.

[LoisB]

6. Maybe if people stopped the hero worship of people like Musk, Bezos and the rest, they wouldn't be

so arrogant.

[hunter]

7. Fuck off, Elon. The world will go on without you.

Not any better, not any worse.

Personally, I think all billionaires should be taxed out of existence. No pity that they should be forced to share their wealth with the people who made them, starting with their lowliest paid employees and customers.

There are guys emptying trash cans in your corporate headquarters, Elon, who are far better men than you are.

And women... you have not a fucking clue.

[Bluethroughu]

8. Oh well, tax'em....they are only patting themselves on the back,

After using technology this Country paid for and developed!

[BootinUp]

10. In addition to a ridiculous amount of money

He has a hell of a lot of gall.

[2naSalit]

11. Shut up, quit sniveling!!

And fuck you for moving to Texas! And fuck you for all that space garbage. Pay your fucking taxes or go home.

[Midnight Writer]

12. "Such a move would hit hard"? I call BS. They won't even feel the pinch. They'll make it up in a day

[onethatcares]

13. as my mom would say to me,

"If you want something, save for it".

I'm sure he's not going to be hurting too bad if he pays his fair share.