Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 19 / PRNewswire-Asianet /-- Tesla CEO Elon Musk said at the weekend that US President Joe Biden called for higher taxes on the super-rich, but the result will only hurt low-and middle-income groups, not have a substantial impact on the rich.

"seriously, I agree that we should outlaw well-designed tax avoidance plans, but doing so will make many donors feel uneasy, so they can only see the discussion, but it is difficult to see the action," Musk wrote on Twitter. Those who will actually be forced to bear the burden of excess government spending are low-and middle-income earners because they cannot evade payroll taxes. "

Musk's tweet was in response to Biden's remarks during a campaign tour in Philadelphia on Saturday, when Biden sought support from union workers and called for new taxes on the rich and businesses. The number of billionaires in the US has increased to about 1000, but they have only paid about 8 per cent of the profits tax, Biden said. "they pay less tax than teachers, firefighters and most people in this room," Biden said. "it's time for them to pay the minimum tax. I don't mind them becoming billionaires, but please pay taxes fairly."

CTOnews.com notes that Musk said in 2021 that even a 100% tax on all billionaires would be a drop in the bucket for America's huge national debt. He warned the American people: "after they have spent all other people's money, they will come to you."

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