Bernie Sanders asks for more taxes for the super rich and Tesla’s Elon Musk attacks him: “I forgot you were still alive”

Fall of style, not the first, for Tesla’s boss Elon Musk. The skirmish took place on Twitter, the most loved and exploited social network by Musk, in relation to a tweet from the Democratic senator Bernie Sanders, 80 years old. Sanders wrote: “It is fair to expect extremely rich people to pay for it fair share of taxes

Close to the replica of Musk, first or second richest individual in the world (depending on the performance of Tesla shares) with an estimated assets in over $ 300 billion: “I forgot you were still alive.”

And then Musk adds: “Do you want me to sell more Tesla Bernie shares? Just say it.…”

The entrepreneur of the electric car refers to an operation conducted last week. After throwing a Twitter survey to ask whether it should sell 10% of its stake in Tesla to avoid the risk of paying unrealized tax on profits as contemplated by a bill under discussion in the Senate, and after the victory of “yes” with 58%, Musk actually sold a portion of his stock. Too bad the operation was scheduled for some time and that, in the meantime, Musk has exercised some stock options that allowed him to buy Tesla shares at $ 6 for a market value of around a thousand dollars. Not only with a profit of over 2 billion but also by reducing its stake. Moreover, it is not the first time that Musk He “plays” with his numerous followers, making a profit or trying to do so. It has done so, in recent months, with digital currencies such as the Bitcoin or with stocks in the midst of speculative waves such as GameStop.

There are several manifestations of solidarity with Sanders including that of the actress Susan Sarandon. The US Senate is discussing a bill supported by the most progressive part of the Democratic party, including Senator Sanders, in which it is hypothesized to tax the unrealized profits of the 700 richest people in the United States. Billionaires like Jeff Bezos, Warren Buffett, Marl Zuckerberg or Musk himself holds significant stakes in their companies. However, securities are only taxed on the spot where they are sold. Until this happens, even if their value multiplies dramatically, the owner does not suffer any withdrawal. Nevertheless they exist countless mechanisms for tapping into wealth shares without selling them, for example by pledging the securities to banks in exchange for financing. This is how Buffett (but it applies to everyone) manages to pay taxes of less than $ 2 million per year despite having assets of over 110 billion dollars.

Musk had already spoken out against this proposal of law defining it useless and suggesting rather to the government of reduce public spending. A few months ago Musk moved his residence from California to Texas to take advantage of a more favorable tax regime on corporate equity investments. Basically it will pay no taxes.

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