SpaceX and Tesla CEO Elon Musk trolled U.S. Senator Bernie Sanders over taxes for the extremely wealthy.
The Federal government proposed a billionaire tax plan which would tax unrealized capital gains on assets. The world’s richest man slammed the proposal and said that the government runs out of people’s money and then they come for the wealthy.
Later, the Tesla CEO conducted a Twitter poll on whether he should sell 10% of his holdings to pay taxes.
Elon Musk Squabbles With Bernie Sanders Over His Extreme Wealth Tweet
On November 13, U.S. Senator Bernie Sanders demanded the extremely wealthy to pay their fair share of taxes.
We must demand that the extremely wealthy pay their fair share. Period.
— Bernie Sanders (@SenSanders) November 13, 2021
Elon Musk funnily replied that he keeps forgetting that Bernie Sanders is still alive. He further added another tweet to the thread by asking Bernie whether he wants Elon to sell more stock. He told Sanders to “just say the word”.
Want me to sell more stock, Bernie? Just say the word …
— Elon Musk (@elonmusk) November 14, 2021
The Twitter poll suggested that Musk should sell his stock. The results of the poll made the stock price of Tesla plummet by 7% on Monday.
In the past 5 days, the price has plunged by 10.01%. Cathie Wood and Kimbal Musk recently revealed that they sold a large number of Tesla shares.
The Dogefather also said that he would abide by the results of the poll. Thus he sold nearly $7 billion worth of Tesla shares, as per Reuters.
Thus, the recent selling of many Tesla shares is the main reason why the stock is currently bearish.
The Billionaire tax plan was authored by Sen. Ron Wyden of Oregon. It would apply to taxpayers earning above $100 million in annual income or those holding at least $1 billion in assets for three years, as per Business Insider.
Wyden said that the Billionaires Income Tax would ensure billionaires pay tax every year, just like working Americans.