In his own words, Elon Musk discusses his decision to pay the ‘single largest tax bill ever paid by any individual in history.

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The founder of Tesla, Elon Musk, owns a slew of world records, but he would prefer not to hold this one. Tesla CEO Elon Musk claims that his $11 billion personal income tax bill is the largest in the history of the United States.

The IRS will be his first stop on his next trip to Washington, D.C., to see whether the agency will provide him with a consolation reward in recognition of his achievement.

 

 

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A video featuring Sen. Elizabeth Warren blasting billionaires for making use of tax loopholes was posted on social media Sunday, prompting the SpaceX founder to address his hefty tax payment on Twitter.

In an interview with CNN, the Massachusetts Democrat stated that Elon Musk and Jeff Bezos ought to make greater contributions.

“Do you know how much [Elon Musk] paid in taxes as one of the wealthiest people on the planet?” says the author. Zero! “And he isn’t the only one,” she added emphatically. “Jeff Bezos, another of the world’s wealthiest people, pays less in taxes than a public school teacher or a firefighter,” says the author.

Musk believed that his $11 billion in income taxes from the previous year would be sufficient.

The response was, “I’ll pay a visit to the IRS the next time I’m in DC just to say hello since I paid the highest taxes in history for an individual last year,” he said. Perhaps you could offer me a biscuit or something.”

The two had previously engaged in verbal sparring on social media. Soon after Time magazine awarded Elon Musk its Person of the Year in December, Warren tweeted that the “rigged tax code” must be changed to prevent the billionaire from “freeloading” on the American people.

Musk referred to Warren as an “angry mom” and “Senator Karen” on Twitter.

Warren’s assertions aren’t completely without foundation. In an examination by ProPublica, it was shown that Musk paid less than $70,000 in taxes in 2015 and 2017, and nothing in 2018. His tax burden was so high last year as a result of his exercise of billions of dollars in Tesla stock options in August, just before they were about to expire.

Elon Musk claims that the Tesla Model 3 is the “most manufactured” vehicle in the world. Automobile Made in the United States

President Joe Biden stated earlier this month that his government intends to convert all federal cars to electric drivetrains. He said the proposal would increase manufacturing in the country while also creating jobs in the United States.

“We’re preparing to convert all 600,000 federal government vehicles into electric vehicles, bringing more manufacturing jobs back to our country, and establish supply chains right here in the United States,” Vice President Joe Biden said on Twitter. “Buy American is becoming a reality – not just a slogan,” says the president.

Elon Musk, who has been critical of Vice President Joe Biden and other U.S. electric vehicle makers, has stated that the government should look into Tesla if they intend to purchase American-made vehicles.

“The Model 3 is literally the most made in America car in the history of – of course – America,” Musk wrote in a Twitter post.

The article, which he linked to, stated that Tesla is the only automaker that can stamp “Made in America” on all of its vehicles, according to the publication.

“It’s worth noting that Tesla is the only major automaker to claim 100 percent domestic production for all of the cars it sells in the United States, a figure that is significantly higher than the industry’s roughly 52 percent average for the 2021 model year,” writes Kelsey

Mays, assistant managing editor at Cars.com, in an article published by the website.

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Master of Science student at the California Institute of Technology, Devanny. Since he began working as a freelance writer more than 4 years ago, he has contributed to various publications, including blogs, magazines, poetry websites, newspapers, and internet debates. Pankaj has been contributing original content to The Current in a freelance capacity throughout the past year. Words from Pankaj: "Spread love everywhere you go. Let no one ever come to you without leaving happier."