Remember how Sen. Elizabeth Warren took a moment from powwowing across the plains to criticize Elon Musk, and how Elon ABSOLUTELY DESTROYED her on Twitter?
Warren said Elon doesn't pay his fair share in taxes (says the rich senator who gets a bunch of tax credits every year and lives off taxpayer money). The Tesla CEO responded by saying he's about to pay more taxes than anyone in U.S. history.
He wasn't lying.
Elon Musk could well be shelling out one of the largest tax bills in history this year.
That's because the Tesla CEO has been exercising a large number of options this year — and still has more to go.
Taxes on the options could exceed $10 billion for this year if he exercises all his Tesla share options expiring in 2022, according to Bloomberg calculations.
Crazy. Not only does Elon add billions of dollars in revenue to the U.S. economy each year, provide countless jobs across the country, and make our lives easier and cooler with new gadgets, but he's also shelling out big money to cover public services.
Business Insider tried to dunk on Elon or something by posting this.
A ProPublica investigation published in June found that the billionaire paid $455 million in taxes from 2014 to 2018 even though his wealth grew by $13.9 billion.
Would you rather that he didn't get rich by taking big risks, and that that $455 million never existed? Lefties like to think that economics is a pie, and if a rich person has more money, poor people have less. That's not how it works. This is not a zero-sum game!
