Elon Musk Calls Biden Fair Share Tax Policy ‘Words but No Action’ — Could Billionaires Paying More Work?
Elon Musk, the richest man on the planet with a $242 billion net worth, according to the Bloomberg Billionaire Index, commented on President Joe Biden’s comments about fair share tax policy.
Replying to Biden’s tweet, “It’s about time the super-wealthy start paying their fair share,” Musk wrote: “Please give him the password, so he can do his own tweets,” implying the tweet wasn’t written by the commander in chief himself.
However, Musk then switched gears and seemed to somewhat agree with the President’s views, subsequently tweeting:
“In all seriousness, I agree that we should make elaborate tax-avoidance schemes illegal, but acting upon that would upset a lot of donors, so we will see words, but no action. Those who will actually be forced to carry the burden of excess government spending are lower to middle income wage earners, as they cannot escape payroll tax.”
As part of his re-election campaign, President Biden has been pushing his so-called Bidenomics, reiterating the wealthy and large corporations should pay their fair share in taxes.
The President “has signed legislation into law to reduce the deficit by more than $1 trillion over the next decade, including by ensuring the wealthiest Americans and largest corporations pay their fair share, cracking down on wealthy tax cheats,” the administration said in a statement on Bidenomics on June 28.
Musk is not the only billionaire to comment on the administration’s tax policy. In May 2022, Jeff Bezos — whose net worth stands at $157 billion, making him the third richest man on the planet — also took aim at Biden’s comments.
Responding to the President’s tweet insinuating raising corporate taxes would bring down inflation, Bezos tweeted, “The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”
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