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Elon Musk reacts to criticism of not paying federal income tax

Tesla and SpaceX CEO Elon Musk lives very modestly by millionaire standards. Philip Singer Pool / Getty Images

Ah Bomb investigation Elon Musk, like more of America’s top billionaires, has paid very little income tax in recent years, according to a new IRS data survey released by ProPublica on Tuesday. According to the magazine, Mr. Musk answered the first press question with a question mark without further explanation. But Tesla’s CEO broke silence on Wednesday when his top Twitter fans urged him to discuss his tax situation.

According to a ProPublica report, Mr. Musk paid less than $ 70,000 in federal income tax in 2015 and 2017, but not at all in 2018. stock option. However, the overall “true tax rate” for the five years from 2014 to 2018, calculated by dividing the amount of tax paid by the increase in net worth, is only 3.27%, far more than the average American household. Low.

Defenders of Musk challenged ProPublica’s calculations. “If’taxed on the wealthy’, Elon Musk would have to sell billions of dollars worth of Tesla shares,” said Musk’s frequent Twitter engineer, Planay.・ Mr. Pathall tweeted. “This is terrible for stock prices and can hurt many individual shareholders.”

“That’s right,” Musk replied. “[The] I sell Tesla stock only when stock options have expired and I have no choice. ”

“By the way, I will continue to pay income tax in proportion to my time spent in California. [the] This is important and will continue to be important. “

The ProPublica survey did not include information about state income tax.

In May 2020, Musk tweeted:Sold almost all physical property andIncluding the house so he can focus on managing Tesla, SpaceX and other ventures.

He confirmed on Wednesday that he had sold all but one. “Yes, I sold my home, except for the ones rented out for the event in the Bay Area,” he tweeted. “We are working with Tesla on the sustainable energy of the Earth and protecting the future of consciousness by making life multi-planetary in SpaceX. Also, risk mitigation by AI. Neuralink Correcting traffic with Boring

Elon Musk explains why he pays so little income tax on his $ 152 billion property



Elon Musk reacts to criticism of not paying federal income tax

Source link Elon Musk reacts to criticism of not paying federal income tax

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