Elon Musk and Elizabeth Warren Feud Timeline on Tax Policy
In 2018, Elon Musk would have paid nothing in federal income taxes. It has caught the attention of politicians calling for fairer taxes for America’s top earners.
During the summer, the non-profit newspaper ProPublica published an explosive survey of how much America’s richest people pay in taxes. According to ProPublica reports, Musk saw his wealth increase by $ 14 billion from 2014 to 2018, but he only paid $ 455 million in taxes.
And, in 2018, Musk paid no federal income taxes, according to ProPublica. When the point of sale tried to reach him for comment, he responded with “?”.
Lawmakers, including Senator Elizabeth Warren, have taken action. Warren and Senator Sheldon Whitehouse wrote a letter to Senate Finance Chairman Ron Wyden, saying the committee should investigate the allegations uncovered by the report by focusing on financial institutions and their role in tax evasion.
“This tax avoidance by the richest people in the country is deeply unfair”, Warren and Whitehouse wrote. “This leaves the nation unable to pay for critical investments in infrastructure, education and health care. It promotes
on wages, which distorts the economy of our country and worsens inequalities. “