Elon Musk claps back at Elizabeth Warren claim that he paid 'zero' in taxes
Elon Musk fires back at Elizabeth Warren in fight over taxes
‘Kennedy’ Party Panel debate how much the highest earners should pay in income tax.
Tesla CEO Elon Musk clapped back at Sen. Elizabeth Warren, D-Mass., who claimed that he had paid "zero" in taxes in 2018. Musk cited his multi-billion-dollar anticipated tax bill for 2021.
"Elon Musk in 2018, we've actually seen his tax returns," Warren said Sunday. "You know how much he paid in taxes, one of the richest people in the world? Zero."
Musk paid no federal income taxes in 2018, according to a ProPublica report. Musk reportedly lives off of loans he takes from Tesla shares that he owns through stock options.
MUSK SAYS HIS TAX BILL FOR 2021 WAS OVER $11 BILLION
Musk responded to a Twitter post that quoted part of Warren's claim but omitted the reference to 2018. "You know how much [Elon Musk] paid in taxes, one of the richest people in the world? Zero!" the post read.
13 August 2021, Brandenburg, Grünheide: Elon Musk, Tesla CEO, stands in the foundry of the Tesla Gigafactory during a press event. (Getty Images) "Will visit IRS next time I’m in DC just to say hi, since I paid the most taxes ever in history for an individual last year," Musk replied on Twitter. "Maybe I can have a cookie or something …" For 2021, Musk said he anticipated spending more in taxes than some countries make in a year. He said he would pay over $11 billion, a number that comports with Bloomberg News reporting that he could face a bill of more than $10 billion if he exercises his stock options. Bloomberg News reported that this sum could be the largest individual payment to the Internal Revenue Service. Tesla did not immediately respond to an after-hours email asking about Musks's taxes for 2018 and 2021. Sen. Elizabeth Warren, D-Mass., speaks during a news conference on Capitol Hill in Washington, Monday, March 1, 2021, to unveil a proposed Ultra-Millionaire Tax Act. (AP Photo/Susan Walsh / AP Newsroom) Nasdaq recently published a report that listed countries with the projected lowest gross domestic product in 2021. If Musk’s tweet is to be believed, his check will be larger than the GDPs in Burundi, South Sudan, Somalia and just shy of Mozambique’s projected $13.96 billion in 2021. The Tesla CEO had previously clapped back when Warren claimed that he does not pay enough in taxes and is essentially "freeloading off everyone else." Tesla has once again been subpoenaed by the Securities and Exchange Commission over CEO Elon Musk’s Twitter habits. (REUTERS/Michele Tantussi/File Photo / Reuters Photos) "Stop projecting," Musk wrote in response, linking to a 2019 opinion piece from political consultant Bradley Blakeman, which classifies Warren as a "fraud" following her claims of Native American ancestry. CLICK HERE TO READ MORE ON FOX BUSINESS Musk had previously criticized the billionaire tax, saying, "Eventually, they run out of other people’s money and then they come for you." Fox Business's Edmund DeMarche contributed to this story. Source: Read Full Article
