Elon Musk rips Democrats' billionaire-tax plan that could slap him with a $10 billion annual bill

[Nostra]

Of course if they just did a flat tax, like 10% across the board consumption tax, then everyone would pay their fair share as the poor would pay less in taxes, and the rich would pay more in taxes. But then the Dumbocrooks could use the Tax Codes to get out the vote for stupid prog slaves then could they?

Treating every person the same isn't "fair" in Dimtardland.

 

[john doe 101]

Dude, i am only paying 20% of my income in taxes. Think about that, you dufus. I learned how to avoid paying very high taxes, by learning how the Progressive elites hide their money. Today i am in the top 10%. But those stupid poor progressive asswipes like you, probably pay so much more tax rate, because you just do what your progressive masters tell you to do, and that is to pay "Your fair share"... You just cant get more stupid than that.


Think about it, if i pay $100,000 in taxes but that is only 20% of my income, what is my total income? Oh yeah, math, that must make me a racist..



2021 Qualified Dividend Tax Rates

Rate	Single	Married Filing Jointly	Married Filing Separately	Head of Household
0%	$0 – $40,400	$0 – $80,800	$0 – $40,400	$0 – $54,100
15%	$40,401 – $445,850	$80,801 – $501,600	$40,401 – $250,800	$54,101 – $473,750
20%	$445,851+	$501,601+	$250,801+	$473,751+

Aug 27 2021

The Dividend Tax Rate for 2020 and 2021 - SmartAsset​

View attachment 557056
smartasset.com/taxes/dividend-tax-rate

LOL your effective tax rate is "only" 20%. Like I said, you need a new accountant, boy.

 

[JohnDB]

He should be able to be rewarded for his innovation but no company has ever been valued as much as his while actually producing so little.

Tesla Becomes Lowest-Revenue Company to Hit $1 Trillion Market Value

The reason for that is the Trillions the Fed has pumped into the markets.

I need them to stop...they gotta run out of money at some point. The inflation rate alone is killing everyone and it's not going to stop when the stimulus stops...it's going to continue upwards. But the value stocks will finally get some value. These are the stocks that produce something other than "blue sky". These stocks produce plywood and OSB, and nylon and foam for automobiles...filters for water purification and tires and.... currently the stocks going artificially high are the "blue sky" stocks like NVDA and software companies... manufacturing is in the dumpster and really low valuations currently. An average P/E ratio of 8. The best having 14 and the lowest 2. This is why Elon's company is doing so well...he sells excess carbon credits to the highest bidder. Who gives him the carbon credits? He buys Bitcoin and everyone else does too....he licenses his innovations to everyone just like NVIDIA. (They don't produce chips either...just licenses them)

 

[john doe 101]

.it's going to continue upwards.

Actually inflation is forecasted to start going down as early as December and a vast majority of economists forecast a decrease inflation back to around 3% in 2022. You just made that up out of thin air.

Elon Musk will not be selling vehicles to consumers within 10 years.

You sound like an old timer investor ie 75+ years old. You probably own GE, Goodyear, IBM as your tech stock, Kroger, 3M, Catepillar, and Coke. Meanwhile, the world has passed you by.

 

[toobfreak]

Personally, I think the rich should pay their fair share.

Which of these 700 billionaires is currently under IRS prosecution for tax fraud or evasion?

None?

Then that means they already DID pay their fair share according to every tax law written in the book, a book helped written by DEMOCRATS.

 

[JohnDB]

Actually inflation is forecasted to start going down as early as December and a vast majority of economists forecast a decrease inflation back to around 3% in 2022. You just made that up out of thin air.

Elon Musk will not be selling vehicles to consumers within 10 years.

They are fantasies of it stopping.
Core inflation is above 4% and is not done going up. All that stimulus is ultimately the root of it...but it is a fantasy to believe that it's over. Wage increases started it... commodities strengthened it...
Energy shortages added gasoline to it...
Empty shelves have set the whole thing on fire.

It's not going away quickly and easily as they are suggesting. Not when 80% of the world's currencies are backed by deposits of US Dollars.

 

[john doe 101]

They are fantasies of it stopping.
Core inflation is above 4% and is not done going up. All that stimulus is ultimately the root of it...but it is a fantasy to believe that it's over. Wage increases started it... commodities strengthened it...
Energy shortages added gasoline to it...
Empty shelves have set the whole thing on fire.

It's not going away quickly and easily as they are suggesting. Not when 80% of the world's currencies are backed by deposits of US Dollars.

I'm not suggesting it. Economists that know more about it than you or me are suggesting it.

 

[Mikeoxenormous]

LOL your effective tax rate is "only" 20%. Like I said, you need a new accountant, boy.

Bwaaaaahhaaaaaaa.....You have no clue.....

 

[Mikeoxenormous]

Actually inflation is forecasted to start going down as early as December and a vast majority of economists forecast a decrease inflation back to around 3% in 2022. You just made that up out of thin air.

Elon Musk will not be selling vehicles to consumers within 10 years.

You sound like an old timer investor ie 75+ years old. You probably own GE, Goodyear, IBM as your tech stock, Kroger, 3M, Catepillar, and Coke. Meanwhile, the world has passed you by.

And you are a ******* liar as always, just like Merrick Garland.

Jeffrey Gundlach says inflation will stay above 4% through 2022

"We believe that it's almost certain that 2021 will end with a 5-handle on the [consumer price index], and it's going higher in the next couple of readings, thanks primarily to the price of energy," Gundlach said on CNBC's "Halftime Report." "And we don't think inflation is going below 4% anytime in 2022."

His comments come with the CPI, which measures a broad basket of consumer goods prices, increasing at a 5.4% annual pace when including food and energy costs, the fastest in 30 years.

 

[ElmerMudd]

Tesla CEO Elon Musk on Monday evening criticized a Democratic tax proposal that would target American billionaires to fund a safety-net expansion, saying it represented the start of a new campaign from Democrats to redistribute wealth from the richest Americans.

"Eventually, they run out of other people's money and then they come for you," he wrote on Twitter.

Elon Musk rips Democrats' billionaire-tax plan that could slap him with a $10 billion annual bill

"Eventually, they run out of other people's money and then they come for you," Musk tweeted at the senator who drafted a billionaire-tax proposal.

www.businessinsider.com

The former Rush Limbaugh is spinning in his grave over this "tax the rich" plan. You guys have to stop it!

Personally, I think the rich should pay their fair share.

You are a dumbass. Elon Musk will still be paying a lower % of tax than you probably are.

 

[JohnDB]

I'm not suggesting it. Economists that know more about it than you or me are suggesting it.

Those aren't the ones I am listening to...there's a range of them. Where I'm not in the same camp as Jack Dorsey who claims hyperinflation is coming...I'm not living in a fantasy land of it evaporating either. No...it's not ending and might get to double digits if the insanity doesn't stop soon.

 

[colfax_m]

Of course if they just did a flat tax, like 10% across the board consumption tax, then everyone would pay their fair share as the poor would pay less in taxes, and the rich would pay more in taxes. But then the Dumbocrooks could use the Tax Codes to get out the vote for stupid prog slaves then could they?

A consumption tax would increase burden on the poor and decrease it for the rich.

The poor spend basically all their income, meaning it would be about a 10% income tax. More than they currently pay.

Someone like me pays about 30-40% effective tax rate. I only spend about 1/3 of my income on things that could be considered consumption so my effective tax rate would be like 4%.

 

[Nostra]

A consumption tax would increase burden on the poor and decrease it for the rich.

The poor spend basically all their income, meaning it would be about a 10% income tax. More than they currently pay.

Someone like me pays about 30-40% effective tax rate. I only spend about 1/3 of my income on things that could be considered consumption so my effective tax rate would be like 4%.

So treating everyone the exact same way isn't fair.

 

[SweetTea]

Actually inflation is forecasted to start going down as early as December and a vast majority of economists forecast a decrease inflation back to around 3% in 2022. You just made that up out of thin air.

Elon Musk will not be selling vehicles to consumers within 10 years.

You sound like an old timer investor ie 75+ years old. You probably own GE, Goodyear, IBM as your tech stock, Kroger, 3M, Catepillar, and Coke. Meanwhile, the world has passed you by.

Inflation will not go down in Dec. You are listening to the wrong folks.

 

[JohnDB]

A flat rate tax would work.
12% across the board no deductions...

You can fill it out on a postcard and be done. It would eliminate most of the IRS administration... saving all the money from those jobs and free up tons of real estate in DC.

 

[tshrimp]

Oh sure, let's punish those who make the most and reward those who make the least. I wonder what that will encourage.

Reminds me of the Reagan speech to Obama cartoon. You can skip to :40 if you just want to see the cartoon.

 

[Mikeoxenormous]

A consumption tax would increase burden on the poor and decrease it for the rich.

The poor spend basically all their income, meaning it would be about a 10% income tax. More than they currently pay.

Someone like me pays about 30-40% effective tax rate. I only spend about 1/3 of my income on things that could be considered consumption so my effective tax rate would be like 4%.

Do you really think so. Poor dont buy that much so have a very small tax but still help contribute to the country that they live in, while the rich who buy a lot more would be taxed a lot more than the poor. But the progressive tax system that allows progressive elites to hide their wealth, then be bitched at for not paying their fair share, just continue to play the game. I also am playing that game.

 

[tshrimp]

Actually inflation is forecasted to start going down as early as December and a vast majority of economists forecast a decrease inflation back to around 3% in 2022. You just made that up out of thin air.

Elon Musk will not be selling vehicles to consumers within 10 years.

You sound like an old timer investor ie 75+ years old. You probably own GE, Goodyear, IBM as your tech stock, Kroger, 3M, Catepillar, and Coke. Meanwhile, the world has passed you by.

I hope you are correct. Do you happen to have some links for us though?

 

[basquebromance]

Since D-Day, the federal government has extended its power into every sector of the economy and every sector of our lives

And what is our reward? Well, large parts of our cities have become terrorist enclaves. Welfare is Methuselized poverty, and it replaces family with dependence on government

the resources of the productive are plundered, while the failures of the inept are cultivated.

that's the ultimate goal of such egregious taxes. we need fast-acting tax relief for millionaires and billionaires

 

[LAUGHatLEFTISTS]

A fair question. But, before anyone does any work, is there any number you would accept? I mean, people can have their opinions. But you are asking for them. So it is fair to ask what number you would accept.

Yea, let’s not do any work and just scream Tax The Rich because feelings n stuff.