By JD Lasica from Pleasanton, CA, US - Elon Musk, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=68478030

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.

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.


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cc cc
cc cc
1 month ago

FJBiden

vladimir
vladimir
1 month ago
Reply to  cc cc

FJB

Macc
Macc
1 month ago

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?

Elizabeth Estrada aka CHIAKIA
Elizabeth Estrada aka CHIAKIA
1 month ago

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. 😄😄😄