Comment on Here are the massive tax increases coming your way in a second Biden term

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wintermute_oregon@lemm.ee ⁨8⁩ ⁨months⁩ ago

Let’s focus on one as that’s easier.

Elon Musk, one of the world’s richest men, paid a “true tax rate” of about 3 percent between 2014 and 2018. Aber Christine, a flour vendor in Uganda, makes $80 a month and pays a tax rate of 40 percent.”

This is false. It’s easy to prove it false. It’s well documented.

Between 2014 and 2018, Musk paid $455 million in taxes on $1.52 billion of income,

cnbc.com/…/elon-musk-says-he-will-pay-over-11-bil…

So how did they come up with 3?

Technically most of that wasn’t “income”. It’s capital gains. His salary is normally a dollar.

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