The businessman, who had already paid $ 6.9 billion in shares of the electric car company as of November 12, further wrote: “Do you want me to sell more shares, Bernie? Just tell me”. Sanders’ tweet comes amid Washington’s efforts to raise taxes for the wealthiest.
A week ago, Musk tweeted that he would sell 10% of his shares if users of the social media platform supported the move. Approximately 57.9% of the people voted in favor of the stock sale. Musk ended up selling his titles this week at a significantly lower price than if he had done so before his tweet about the poll. Its massive sale affected the company’s share price, which lost 15.4% for the week. According to the latest SEC documents, Musk still owns about 167 million Tesla shares.
The CEO of Tesla along with Jeff Bezos, have been leading the claims so that the proposal of the Democratic legislators does not materialize. The goal is for the billionaires tax to finance President Joe Biden’s social spending plan – aimed at the middle and low-income sectors – one of his main management axes.
The plan would affect about 700 people, whose net worth has remained above US $ 1 billion for three consecutive years, or who have earned at least US $ 100 million annually. If the reform advances, it would tax the appreciation of marketable securities (such as stocks and bonds) on an annual basis (23.8%), unlike the current scheme that only pay taxes when they are sold, because only from that moment on are they considered as capital gains. On the other side, you can also receive deductions for your losses.
The plan, which would take effect in 2022, requires billionaires to pay taxes on all their marketable assets appreciated to date, but they can spread the cost over five years. Musk, even with the sale of his shares, is the richest man in the world with assets of about $ 300,000 million.
Source From: Ambito
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