Bernie Sanders’ new act aims to make Elon Musk pay $27.5B in taxes

-

-Advertisement-

The fight between Vermont Senator and candidate for President Bernie Sanders proposed an act called ‘Make Billionaires Pay Act’ — this bill requires billionaire individuals and families of the United States to pay a one-time mega tax to support the country’s healthcare system.

According to Bernies’ press release on this act, the tax rate on billionaires would be 60% on the money they made from March 18th, 2020 o January 1st, 2021. 

According to Americans for Tax Fairness and Institute for Policy, if we taxed 60 percent of the windfall gains these billionaires made from March 18th until August 5th we could raise $421.7 billion. That’s enough revenue to allow Medicare to pay all of the out-of-pocket healthcare expenses for everyone in America over the next 12 months.

Source: Bernie Sanders’ website

This press-release gives examples of Jeff Bezos, Elon Musk, Mark Zuckerberg, and the Walton Family who will pay $42.8B, $27.5B, $22.8B, and $21.5 billion respectively.

This quickly escalated to a Twitter war between Bernie and Tesla CEO Elon Musk attacking, name-calling each other directly in their tweets.

While Bernie Sanders is accusing Elon Musk of being an egocentric billionaire, Elon believes Bernie is paid by big oil to dent the mission for sustainable energy and transportation.

– Sponsored –

If ever this act turns into legislation and Bernie Sanders becomes President, Elon Musk will have to sell his stake in Tesla to pay for such a huge amount of money, this will reduce his share in the company and will negatively affect the company and its employees, investors, shareholders, and the stock market.

This will also cost Elon Musk his tranches of performance-based bonuses that he earned by making Tesla the world’s most valuable automotive company (current Market Cap = $270 billion).

Elon Musk does not accept a salary against his services, but he is required to get the minimum California pay which is piling up in a Tesla bank account somewhere and he never cashes it out, he says.

Follow Us on Google News Follow us on Google News for more amazing Tesla Stories

Latest Tesla / SpaceX News:

Featured Photo: Bernie Sanders’ press / Joe Rogan via Instagram

Iqtidar Ali
Iqtidar Alihttp://www.teslaoracle.com
Iqtidar has been writing about Tesla, Elon Musk, and EVs for more than 3 years on XAutoWorld.com, many of his articles have been republished on CleanTechnica and InsideEVs, maintains a healthy relationship with the Tesla community across the Social Media sphere. You can reach him on Twitter @IqtidarAlii

Latest News

Tesla Roadster to get radical design changes, an even better 0-60 time, and shipped next year — Elon Musk

Tesla (TSLA) CEO Elon Musk dug some of his old X posts (tweets) from 2018. These buried tweets were...

Vandals fail to break the Cybertruck glass in California — Elon Musk says it’s the finest in apocalypse defense technology

A Tesla Cybertruck owner and influencer Arash Malek (@MinimalDuck) from California is the first one to face vandalism on...

Cybertruck rust or just dust — and how to fix the issue

It has been almost 3 months since Tesla started delivering its most awaited electric pickup truck — the Cybertruck....

Study: The Current Generation of Students Is Pushing for Sustainable Electric Vehicles

Sustainability is a crucial factor directly influencing consumer choices, particularly among Gen Z students. Within the auto market, younger...
- Advertisement -

Starship 28 stacked on Booster 10 for the first time in preparation for Flight 3 orbital launch test

Yesterday, Elon Musk's SpaceX moved the next candidates for Starship Flight 3 to the Orbital Launch Mount (OLM) at...

Starship Flight 3 likely to reach orbit, Elon Musk explains the reason for Flight 2 explosion and achievements of 2023

This past Friday, SpaceX CEO Elon Musk gave almost an hour-long presentation at the Starbase Rocket Garden. The vibrant...

SpaceX ends 2023 with a major Starship Flight 3 milestone — 33 engine Booster 10 static fire test

Elon Musk's commercial spaceflight and space exploration company SpaceX completed its year with a major Starship milestone. On Friday...

Tesla Tips & Tricks

Tesla Quarterly Reports & Eearnings

- Advertisement -

You might also likeRELATED
Recommended for You