This weekend, Tesla and SpaceX CEO Elon Musk polled his Twitter followers, asking whether he should sell 10% of his stock holdings in the electric car company. The final results of the poll were 57.9% in favor, and 42.1% in opposition, with over 3.5 million votes cast.
“Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” Musk tweeted. “Do you support this?”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1457064697782489088?ref_src=twsrc%5Etfw">November 6, 2021</a></blockquote>
“I will abide by the results of this poll, whichever way it goes,” Musk added later. “Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1457067398712942592?ref_src=twsrc%5Etfw">November 6, 2021</a></blockquote>
Tesla’s share price fell by 5% in early morning trading following the news. <a href="https://www.cnbc.com/2021/11/07/elon-musk-faces-a-15-billion-tax-bill-which-is-likely-the-real-reason-hes-selling-stock.html">CNBC</a> also reported that Musk may be facing a tax bill of more than $15 billion in the coming months in relation to stock options, and that “the looming tax bill makes a sale of Tesla stock this year likely regardless of the outcome of the Twitter vote.”
In October, Musk openly criticized the tax proposals being pushed by Sen. Ron Wyden (D-OR), saying, “Eventually, they run out of other people’s money and then they come for you.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Exactly. Eventually, they run out of other people’s money and then they come for you.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1452792781726961668?ref_src=twsrc%5Etfw">October 26, 2021</a></blockquote>
“Democrats are poised to consider a plan that would upend tax rules for the wealthiest Americans, as Senate Finance Committee Chairman Ron Wyden makes a late bid for a new capital-gains tax in President Biden’s social-spending and climate-change legislation,” <a href="https://www.wsj.com/articles/how-the-billionaires-income-tax-would-work-11635325201?mod=article_inline">The Wall Street Journal</a> reported at the time. “Mr. Wyden’s detailed proposal — annual income taxes on about 700 billionaires’ unsold publicly traded assets such as stocks — arrives as Democrats are struggling to find up to $2 trillion over a decade to cover the cost of their agenda. They have plenty of ideas that would exceed that figure, but precious few that can muster the support of enough Democrats to get through the narrowly divided Congress.”
“Mr. Wyden’s 107-page plan would eliminate billionaires’ ability to defer capital-gains taxes indefinitely, and it would impose multibillion-dollar tax bills on people such as Amazon.com Inc. founder Jeff Bezos and Tesla Inc. CEO Elon Musk, who has criticized the plan. It is expected to raise hundreds of billions of dollars over a decade, though the actual amount would depend on stock prices and on whether courts rule the tax unconstitutional,” the outlet continued. “The money would come from the wealthiest taxpayers, many of whom currently can keep their reported income and tax bills low. Under today’s tax system, they don’t have to pay capital-gains taxes unless they sell their assets, and they can borrow against that wealth to finance their lifestyles.”
Wyden responded to Musk’s tweet on Saturday, writing, “Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. It’s time for the Billionaires Income Tax.”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. It’s time for the Billionaires Income Tax. <a href="https://t.co/KFHw3VZ45H">https://t.co/KFHw3VZ45H</a>
&mdash; Ron Wyden (@RonWyden) <a href="https://twitter.com/RonWyden/status/1457110175932846080?ref_src=twsrc%5Etfw">November 6, 2021</a></blockquote>
Musk, whose Twitter name is “Lorde Edge,” appeared to mock the senator, tweeting, “Why does ur pp look like u just came?”
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
Why does ur pp look like u just came?
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1457497438474981384?ref_src=twsrc%5Etfw">November 7, 2021</a></blockquote>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Twitter Votes For Elon Musk To Sell Billions In Tesla Stock, SpaceX Founder Mocks ‘Unrealized Gains Tax’ Senator

CONTINUE READING

Radical DA ‘Has Turned The Streets Of Los Angeles Into A Living Nightmare’: Campaign To Recall Gascón Raises More Than $6 Million

New York Times Changes Wordle Answer After Abortion News, Sparks User Confusion

Moscow Murders: The Danger Of Standing Up To The Russian Regime

What Does Elon Musk Buying Twitter Really Mean?

‘Blatant Attempt To Misinform’: Rand Paul Fires Back At Critics After Tense Exchange With Antony Blinken

Apple CEO Tim Cook Slammed For Human Rights Hypocrisy Over China Censorship

News and Commentary

Elon Musk

SpaceX

Tesla

Wealth Tax

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News and Commentary —

Twitter Votes For Elon Musk To Sell Billions In Tesla Stock, SpaceX Founder Mocks ‘Unrealized Gains Tax’ Senator