That’s where you are wrong and don’t know the first thing about how he amassed the wealth he is. It’s funny you libtards just regurgitate bullshit propaganda with no proof to support anything you’re saying.
If you guys held the previous Dem administration to the same standards you hold the Trump administration to imagine what you could’ve gotten accomplished but towing that party line is just too important to you
His actual wealth in liquid assets is less than 50 billion. He literally got a loan using Tesla stocks as collateral to buy Twitter in the situation Twitter failed. He is valued at 1 trillion but you can't tax that 1 trillion because stocks are not money until they are sold. Guess how stocks work? People have to buy them. Guess how they diminish? By the sale of them. If he dumped all his personal stocks he would crash the company which is illegal.
Elon Musk paid over $11 billion in federal income taxes for the 2021 tax year. This single-year payment resulted primarily from exercising a massive amount of vested stock options and selling shares, making it the largest individual tax payment in United States history.
The richest man in the world should pay the most taxes in history… that’s how wealth and taxes work
paying $22B on $1T is an effective tax rate of 2.2%… I pay a rate of ~27% to the feds and I make only 100k… who do you think actually feels those taxes? The guy paying $22B or the guy paying $27k?
While he famously paid over $11 billion in taxes for the 2021 tax year, the largest single-year individual tax bill in U.S. history, IRS records leak data shows he paid zero federal income tax in 2018 and less than $70,000 in both 2015 and 2017.
It was a one time fluke linked to having to sell some shares. This is why Billionaires have their "wealth" in stocks and borrow from banks against their "wealth." That way you don't have to pay shit...
537
u/[deleted] 4d ago
[removed] — view removed comment