Entrepreneur, engineer, and professional troll Elon Musk is at it again.
He put out a tweet over the weekend asking if he should sell 10% of his Tesla stock so he could pay taxes. He has pledged to do whatever Twitter fools decide. Here’s the tweet:
In a later tweet, Elon agreed to abide by the results.
People get taxed on all sorts of things. Income and capital gains are just the biggest hits.
That said, rich people don’t pay income tax because they don’t take a salary for the most part. Furthermore, they don’t pay capital gains because they only sell stock when they have to.
When your average billionaire needs pocket money, they borrow against their stock at low interest. This allows for impulse buys in the way of mansions, mega-yachts, and rocket ships.
Pay up, Musk
As you can see from the tweet above, more than 57% of the 3.5 million Twitter followers who answered the poll voted for Musk to sell his shares and pay his taxes. He has 62.8 million Twitter followers in total.
This is great public relations. What people will remember is that he thought about the good of this country and paid his fair share in taxes.
Spin and Lies
This is all foolishness, of course. CNBC is reporting that Musk would have to sell a chunk of his stock anyway due to a looming expiration date and a tax bill of $15 billion.
According to CNBC:
Musk was awarded options in 2012 as part of a compensation plan. Because he doesn’t take a salary or cash bonus, his…