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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsElon Musk says he supports an inheritance tax that many of his billionaire peers despise
Elon Musk has made it clear he's against a wealth tax on the richest Americans that could leave him with an annual tax bill in the billions. But he thinks taxing inheritances is a good idea.
"Generally, I think the estate tax is a good tax," the Tesla CEO said at The Wall Street Journal's CEO Council Summit in response to a question about how billionaires should be taxed. He said that his marginal tax rate is high, and that he pays sales tax as well.
Federal estate and gift taxes take a chunk inheritances worth more than $11.7 million for an individual or $23.4 million for a married couple. Someone who dies and leaves below that amount to their heirs doesn't have to give the federal government a slice.
Opponents of the estate tax argue it penalizes thriftiness over one's life and amounts to essentially a double tax on income. Supporters of the century-old tax say it chips away at economic inequality by ensuring that vast wealth can't flow uninhibited between generations. In practice, the measure affects relatively few estates, and the nation's wealthiest people don't have much trouble avoiding it through trusts and clever accounting.
https://www.msn.com/en-us/autos/news/elon-musk-says-he-supports-a-controversial-tax-that-many-of-his-billionaire-peers-despise/ar-AARzrFB
A high inheritance would mean fewer useless fucks like Donald Trump.
CrackityJones75
(2,403 posts)Sorry pal you may have made enough billions to have to pay a lot in wealth taxes but that is the return on investment that we have all paid taxes on things which you built your fucking wealth on.
andym
(5,445 posts)At least he is not avoiding his responsibility like some of his colleagues.
Act_of_Reparation
(9,116 posts)It's really just the statistics of large numbers. If he spends enough time spouting his mouth off, he's bound to say something sensible eventually.
lame54
(35,321 posts)I'll give you my money when you pry it from my cold, dead hands.
Budi
(15,325 posts)#GtfOuttaHere
Elon creates a distraction Headline covering for the whistleblower headline:
"SEE, I'M REALLY THE GOOD BILLIONARE"
December 6, 20215:43 PM
Exclusive: SEC probes Tesla over whistleblower claims on solar panel defects
https://www.reuters.com/markets/commodities/exclusive-sec-probes-tesla-over-whistleblower-claims-solar-panel-defects-2021-12-06/