Elon Musk Asks Twitter If He Should Pay Taxes

[applegrove]

Last edited Sun Nov 7, 2021, 01:38 AM - Edit history (1)

Elon Musk Asks Twitter If He Should Pay Taxes

November 6, 2021 at 11:04 pm EDT By Taegan Goddard 33 Comments

https://politicalwire.com/2021/11/06/elon-musk-asks-twitter-if-he-should-pay-taxes/

"SNIP.....

Tesla CEO Elon Musk posted a poll asking if he should sell Tesla stock to pay taxes,

Musk promised to abide by whatever the results of the poll are, meaning he could potentially be paying taxes on $25 billion of profits.

.....SNIP"

TheHill.com: Wyden rips Musk over Tesla stock poll: 'It's time for the Billionaires Income Tax'

https://thehill.com/homenews/senate/580414-wyden-rips-musk-over-telsa-stock-poll-its-time-for-the-billionaires-income

[applegrove]

1. He should show some leadership and pay up some.

[Bluethroughu]

2. Paying taxes is investing in your country by paying your fair share.

YES, PAY THE TAXES!

[Hoyt]

3. Believe he will do it too. But, he won't sell all his stock immediately. That's

probably good for tax collections since liquidating his stock In showed time will drive price down.

I’m assuming the article is correct. And obviously he’ll still walk away with a ton of money, so no real sympathy. Other investors— pensions, individuals, colleges, etc. — might get hurt.

[TomDaisy]

4. Freedom isn't free. Pay your taxes.

[Guilded Lilly]

5. A little late night Kick!

[SergeStorms]

6. That's a no brainer.

Yes, Mr. Musk, pay your taxes. You have more money than you could spend in 20 lifetimes.

That you would even ask such a question is ridiculous. Should the wealthiest man on the planet pay his fair share of taxes? :eyes

[NowISeetheLight]

7. In 2020 he earned $6.7b in compensation

But it was options to buy Tesla stock at a reduced price. His Tesla salary was $0. That means until he sells the stock there is no tax on it. I've only once had stock options at any of the companies I've worked for. I assume the "instant gain" though between the purchase price and actual price isn't taxed at the time of purchase. Perhaps a tax on stock option "instant gains" would be a reasonable alternative?

https://www.businessinsider.com/elon-musk-highest-paid-ceo-6-7-billion-in-2020-2021-8

https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate

[ColinC]

8. Don't forget to vote.

Probably one of the most consequential twitter polls ever...

[Chainfire]

9. Taxes are for working stiffs who aren't clever enough to avoid them.