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    Elon Musk hits Twitter to ask if he should sell 10% of his Tesla stock to pay taxes

    Elon Musk during a press conference in Chicago in 2018.

    Joshua Lot / Getty Images

    As the story of “billionaire taxes” continues, Tesla CEO Elon Musk went to Twitter on Saturday and asked people if they should sell 10% of the electric car maker’s stake to pay the tax.

    “Recently, many are made of unrealized profits as a means of tax avoidance, so I suggest selling 10% of Tesla’s stock,” Musk says. Tweet, “Do you support this?” Musk, one of the wealthiest people in the world, included a “yes” or “no” poll in his tweets. say it, “I will comply with the results of this poll. Either way.”

    “Note, I don’t receive cash salaries or bonuses from anywhere,” Mask said. Added.. “I only have stock, so the only way to pay taxes personally is to sell stock.”

    Musk’s remark was recently made by the Democratic Party Taxation of billionaires’ unrealized capital gains, Or an increase in the value of unsold assets held, such as stocks, bonds, and real estate.

    In June, research site ProPublica reported that it had gained cash on IRS documents and increased wealth to billions of dollars by musk and other moguls composing wages to avoid income. While paying almost nothing with federal taxes.. According to ProPublica, the activity did not violate the law, but tax records reveal how to minimize taxes by taking out loans backed by shares held by ultra-rich people. ing. By comparison, wage earners live primarily on their salary, which is taxed as income.

    At the time of this writing, 55.4% of Musk poll respondents voted “yes” and 44.6% voted “no”, leaving 22 hours left.

    Mask does not accept direct messages from his Twitter account. Tesla did not immediately respond to the request for comment.

    Laura Hautala of CNET contributed to this report.

    Elon Musk hits Twitter to ask if he should sell 10% of his Tesla stock to pay taxes Source link Elon Musk hits Twitter to ask if he should sell 10% of his Tesla stock to pay taxes

    The post Elon Musk hits Twitter to ask if he should sell 10% of his Tesla stock to pay taxes appeared first on California News Times.

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