Pocahontas demands Elon Musk pay more taxes

Pocahontas is racist against African Americans like Elon. It's as simple as that.

I am not a fan of Warren. I don't like a taxes on assets of wealthy. I don't like a lot of her politics.

But I Musk plays the system and doesn't pay what he should in taxes. The guy acts like he is above the law. Some think that is cool. I don't think being super rich and doing the things he does is cool.

I am all for a a higher capital gains rates on super high gains and taking loans out on stocks should maybe a taxable event. It is a lame loophole super rich can do to avoid taxes.

Elon Musk paid less than $70,000 in federal income taxes between 2015 and 2017, and he did not pay anything in 2018, according to recent reports.

He lives off loans made from his stock options, meaning he doesn’t take a salary from his company.

https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate

So don't like either of these two people.

This thread has two different themes.

One is to discuss the pros and cons of Elon Musk paying more taxes.

The second which is unrelated to the first is a discussion of the pros and cons of Elizabeth Warren. Don't conflate this as the same discussion. Warren could be a horrible person but that doesn't affect whether Musk should pay taxes or not.

I have a couple points on the first discussion. Arguments have been made about the many people Musk employs. This is true but not really relevant. Would Musk employ less and invest less he had to to pay some taxes? His people will try and convince you this is true, not sure if it is. Additionally, his tax money might also be used to stimulate the economy and create jobs. Every person Musk employs, he employs to increase his profits. shouldn't his taxes reflect this increased profit.

People who do good don't expect to have no taxes because of it. When one person doesn't pay their fair share, that means the rest of us have to pay more to cover for them. Not sure I want to pay even a very small portion of Musk's share of taxes.

Elon pay your taxes just like a working guy does. You owe it to your country that set up a financial system that allowed you to make your billions. Its the decent thing to do.

Elon is the ultimate right wing hero: pays less than his fair share in taxes and makes his money off of products that continue to rape the earth (EVs, space rockets, etc).

She helps make the tax laws, I don't understand her complaint.

I’m also confused by this thread.

You guys are defending a billionaire skirting tax laws and paying significantly less than others?

He is innovative, he employs people, sure. Great. He also doesn’t pay his fair share compared to the rest of us.

Yes Musk and his ilk should pay their fair share of taxes. The rich not paying taxes places the burden of paying directly on the working person. That is you, reading this. You are subsidizing every rich person who does not pay taxes right out of your pocket. They are taking advantage of you.

Virtue signaling.

Isn't she a senator?

Can't she do more than tweet?

Phony

"Karen" Warren made her money flipping houses in Oklahoma, she is a fraud.

One of the pre-requisites for paying taxes is your companies have to make money. That is something that Musk has always struggled to do. Most of his "wealth" is in inflated shareholdings of companies that quite frankly are not that profitable.

hunter wheres the coke wrote:

jamb innnnn wrote:

What if trump told everyone he was black.

Be funny if that happened then DNA test confirmed he was actually 2x more black than elizabeth warren was native american lol

It would be weird if Trump thought he was black but it’s not weird that Warren thought she was Native American. That’s the difference

Why would it be weird if Trump thought he was black? Most Americans whose families have been here for several generations likely have some African blood in their lineage. Probably as much as Fauxcahontas has American Indian blood in hers.

Do you think AOC could eat an apple through a chain link fence?

I like to call her Donkey Chompers

Wonder why she does not demand the same of her billionaire donors?

Love that the mods of this "running" site allow racists slurs like this stay up.

Kimbal M wrote:

Pocahontas is racist against African Americans like Elon. It's as simple as that.

Ha

flyoverstaterunner wrote:

Love that the mods of this "running" site allow racists slurs like this stay up.

They allow race baiters like you to post. I don’t hear you complaining about that.

He pay the amount of taxes he owes. Just like you hopefully do. At some point when he sells even more of his stock, he will be hit with a massive tax bill. And he will undoubtedly pay what is due. But to say he should pre-pay taxes on what is essentially paper value is ludicrous. Should you have to pay taxes on any of the stocks you own before you sell them? No. No one should.

"One saving grace for the billionaire is that he did pay his taxes in 2016 by exercising more than $1 billion in stock options, The New York Observer reported."

I wonder how he excercised $1 billion dollars in stock options yet paid "less than $70,000 in federal income taxes between 2015 and 2017"? If he excercised in 2016 then in 2017 at latest he would have owed at least $200million in Federal taxes. How'd he neutralize those cap gains? Also, loans taken out backed by his stock options must be repaid eventually ... doesn't he then have to sell some stock to pay those loans back, thereby incurring capital gains? Just wondering out loud.

kimbal m wrote:

He pay the amount of taxes he owes. Just like you hopefully do. At some point when he sells even more of his stock, he will be hit with a massive tax bill. And he will undoubtedly pay what is due. But to say he should pre-pay taxes on what is essentially paper value is ludicrous. Should you have to pay taxes on any of the stocks you own before you sell them? No. No one should.

Very good point about paying taxes on unrealized gains. Would anyone enjoy receiving a tax bill from the Feds for the appreciated value of, say, the house that you live in? I, personally, would be getting a bill for a few hundred K if this were how it worked. I'd have to sell my house just to pay it. How would that effect ripple through the economy?