Elon Musk criticized President Biden’s push for higher taxes on wealthy Americans, suggesting that the Democratic leader wouldn’t want to upset his wealthy campaign supporters.
President Biden incurred Elon Musk’s displeasure on Saturday when the official Twitter account the president stated that it was time for the extremely wealthy individuals to assume their fair share of tax obligations.
Elon Musk Takes a Swipe at Biden’s Twitter Account Control
However, Musk, the owner of Twitter, put forth the argument that implementing such measures would disproportionately affect lower-income Americans.
Musk expressed agreement with the idea of making complex tax-avoidance schemes illegal but expressed doubt that meaningful action would be taken due to potential repercussions from donors.
He further asserted that the true burden of excessive government spending would fall on lower to middle-income wage earners, as they have no means to evade payroll taxes. Musk took a personal dig at Biden in another tweet, questioning the president’s control over his own Twitter account.
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Biden Reinforces Tax Increase Plans During Union Workers’ Visit
President Biden has consistently advocated for the implementation of a tax targeting billionaires since assuming office in 2020.
During a recent campaign visit with union workers in Philadelphia, Biden reiterated his plans for a tax increase. At the event, Biden highlighted the fact that the super-wealthy often pay lower tax rates than schoolteachers and firefighters, emphasizing the need for them to contribute their fair share.
Musk has indicated his intention to support Republican presidential candidate and Florida Governor Ron DeSantis in the 2024 election. He has been an outspoken critic of Biden’s tax proposals, citing concerns that his companies, SpaceX and Tesla, would have faced severe consequences if a wealth tax had been in place in 2008 when they narrowly escaped bankruptcy.
Furthermore, Musk has engaged in public disputes with prominent liberals who have called for higher taxation of billionaires.
In a notable incident, he referred to Senator Elizabeth Warren as “Senator Karen” during an online argument regarding his tax liabilities.
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