Elon Musk spoke out against the Democrats’ new plan to levy a hefty tax on billionaires in a last ditch attempt to pass their massive infrastructure and reconciliation bills.
As The Hill reports:
Tesla and SpaceX CEO Elon Musk ripped the Democratic proposal for an annual tax on billionaires’ investment gains on Monday as lawmakers consider the tax as a way to fund the party’s multitrillion-dollar reconciliation package.
Musk, who as of Monday had the highest net worth on Forbes’s list of billionaires, replied to a tweet featuring a photo of an email template constituents can send to their lawmakers to oppose the tax.
The letter, which is meant to be addressed to a congressional lawmaker, says, “I expect you to oppose the Wyden proposal to tax unrealized capital gains.”
“I anticipate that any new unrealized capital gains taxes will slowly make their way down to middle class retirement investments over the next several years. It will start with billionaires, then eventually millionaires, then the modest investments will get hit possibly within a decade,” the letter adds.
Exactly. Eventually, they run out of other people’s money and then they come for you.
— Elon Musk (@elonmusk) October 26, 2021
Musk’s company Tesla surpassed one Trillion dollars in market capitalization earlier in the week, in the process driving Musk’s estimated net-worth to well over 200 billion dollars.
FJBiden
FJB
Money to pay for more social programs comes from a vibrant economy. The Swedish learned this in 1990.
The Biden administration is destroying the American economy and along with it American morale.
There is so much we can do as a nation. There is so much we have done in the past. And we can do it again. Guys like Elon Musk has the spirit of the American Dream. Destroy his dreams and you start to destroy America. But I think that’s actually their long term plan.
In time they will be after everyone’s money.
Read history. This will not end well if we allow it too.
So what the hell are we going to do about it?
LISTEN UP…The RICH get RICHER….the POOR get P OORER. That Does NOT Mean EVERYONE Shou ld Be BLED DRY. ELON MUSK is ABSOLUTELY RIGHT. The DEMOCRATS are OPENING DOORS to ALL KINDS of THINGS. IT is NOT a PRETTY PICTURE. Fro m SamuraiQueen. 😄😄😄
How many secret kinds of exemptions will the Dems write themselves into their bill? Laws are for thee, not for me.
How bout let’s have pelosi ,China Joe and the rest of the millionaire politicians give up their ill gotten money ?? They should fund the bills they champion .. how does a politician making a couple hundred thousand a year become so wealthy anyway ?? .. Hmmmm..wonder how they do it ??
globalist puppets; demonrats and rinos accept globalist bribes to preach globalist agendas .
It’s time for the left to accept trickle down as a fact, be they talking about big corporate profits or big tax schemes. Thing is, if it sounds too good to be true it probably is. Taxing unrealized gains is totally ridiculous. If they do it to them they can do it to you. Thing is this. New tax plans “never” go away, they just grow, just like the rest of government.
Crazy, lying Pelosi and senile banana pudding eating Biden are ready for the rubber room at the Democrap funny farm!
Tax the rich! Isn’t Nancy Pelosi and the corrupt demorats in that bracket of the Rich? Anit gonna tax themselves.
More braindead Biden and crazy Nancy tax the rich bullsh*t!
Lets go Brandon ! Politicians should have to show where and how they make their money first! Every year publicly ! And how much they pay in tax !
THEY ABSOLUTELY SHOULD! TOTAL DISCLOSURE FOR GOVERNING OFFICE HOLDERS. EVERY FUKKING CENT!!!!!!!!!
This BULLSHIT is COMPLETELY OUT OF HAND. This country is ONE BIG CORRUPTED BY MONEY SHITHOLE…. and it STARTS RIGHT AT THR TOP WITH THESE SLIMEBALL CROOKED POLITICIANS!!!!!!
LGB
Isn’t that just hilarious? Now that the tax proposals that are in the huge spending bill make billionaires the target of a focused, massive tax increase they suddenly change their tune and don’t like it. Call me a curmudgeon or whatever you like, but I see a huge amount of poetic (and perhaps divine) justice here.
No one has mentioned TAX LOOPHOLES!! If those were eliminated, there would be plenty of tax money to be paid in to the IRS.
DemonicRATS are LAZY, UNPRODUCTIVE, UNRELIABLE and GREEDY. Give them nothing. Let them earn their money like everyone else
Trickle down wealth confiscation is nothing new to Socialist Democrats who have never Eyed a Pool of Money they did not want to Steal!
Washington politicians do not vote anymore money on anything this will cause severe inflation and loss of jobs. It is in your hands to any millionaires would be politicians pay so tax yourselves too
Who is John Galt?
Hope they Tax Radical Lefitst rich types
Who ever got a job from a POOR man? Capitalism is not perfect: it must be ethical to succeed. But Socialism SUCKS. Let’s Go Branden!