- Elon Musk asked his Twitter followers to decide whether he should sell 10% of Tesla stock.
- Musk said in a tweet: “A lot of recent unrealized gains are a means of tax avoidance.”
- Musk slammed the Democratic Party’s proposal to tax billionaires last month, calling it an effort to redistribute the wealth of the richest Americans.
- For more stories, please visit Business Insider.
Billionaire Elon Musk asked his Twitter followers on Saturday to decide whether he should sell 10% of Tesla’s stock, and promised that “regardless of the outcome, the results of this poll will be respected.”
The CEO of the electric car manufacturer said: “Recently, a lot of unrealized gains are tax avoidance measures, so I recommend selling 10% of Tesla stock.” He did not directly state where that 10% would go.
This is not the first time Musk is aiming Washington proposed a tax on the net worth of billionaires. Under current U.S. tax laws, assets such as stocks are only taxed when they are sold-this is the so-called capital gains. But the wealthiest people in the United States may not dump their huge stock portfolios. Instead, their main form of income is the value generated by these assets, or unrealized income.
There have been a lot of unrealized gains recently as a means of tax avoidance, so I recommend selling 10% of Tesla stock.
Do you support this?
-Elon Musk (@elonmusk) November 6, 2021
Musk slammed the Democratic Party’s proposal to tax billionaires last month, To fund a social spending and safety net expansion bill, saying it represents the beginning of a new movement on the left to redistribute the wealth of the wealthiest Americans.
“In the end, they ran out of other people’s money, and then they came to you,” he wrote on Twitter.
In another tweet, Musk said that any government-induced wealth redistribution will be better managed by the private sector.
“Who is best at capital allocation-the government or the entrepreneur-really is in the final analysis,” He wrote on Twitter“The liar will confuse capital allocation with consumption.”
Musk’s net worth this year surged to 335 billion U.S. dollars As Tesla’s stock price soared. So far, he is the richest person in Bloomberg’s index of the world’s richest people.
A sort of White House analysis It was found that when unrealized gains are calculated as income, billionaires only pay 8.2% income tax on average.
At the same time, the economist Gabriel Zucman (Gabriel Zucman) Washington post Represents Musk May face up to $50 billion in taxes If the billionaire tax should be passed, within the first five years.
