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 Cybertruck is Oracle’s next-gen police car, unveiled at CloudWorld 2023 by Larry Ellison

Co-founder and CTO of Oracle Corp Larry Ellison unveiled the company's next-generation police car in his CloudWorld 2023 keynote....

Elon Musk takes Benjamin Netanyahu for a Cybertruck test drive, after a discussion on the future of AI and freedom of speech (videos)

Tesla (TSLA) Fremont, California — the Prime Minister of Israel Benjamin Netanyahu visited the car factory and met with...

Tesla update 2023.32.4 improves the clarity of Autopilot cameras, Model X Falcon Wing doors get new Service Mode release notes, more

Tesla's latest over-the-air (OTA) software update version 2023.32.4 has brought subtle but marginal improvements. Although the release notes for this...

Tesla Model 3 Highland spotted in Shanghai with Model 3+ badging, Tesla ships thousands outside China (videos)

A Tesla Model 3 Highland (2nd-gen) was spotted roaming the streets of Shanghai, China yesterday. This black Model 3...
- Advertisement -

Starship, OLM, and Mechazilla get thousands of upgrades in preparation for the 2nd orbital flight test, FAA holds approval, Starbase updates

SpaceX shared the details of the upgrades that have been made on the road to Starship's next orbital flight...

Starbase update: SpaceX conducts 2nd static fire test on Booster 9, Starship factory expands, Mid Bay demolished, more

Starbase, Texas: SpaceX has been intensely busy in preparation for the next Starship orbital flight since the 1st static...

Starship Booster 9 static fire served as a test bed for the new OLM water deluge system

SpaceX performed a static fire test on its Starship Super Heavy Booster 9 rocket yesterday. This test was performed...

Tesla Tips & Tricks

Even red wine doesn’t stain Tesla white seats (video)

Tesla's futuristic white interior option is the most popular...

Here’s how to drive a Tesla Model 3/Y without the center screen (video)

All credit goes to Tesla for making giant center...

Popular Stories

- Advertisement -

You might also likeRELATED
Recommended for You