{"id":980695,"date":"2021-11-07T11:29:32","date_gmt":"2021-11-07T16:29:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=980695"},"modified":"2021-11-07T11:29:37","modified_gmt":"2021-11-07T16:29:37","slug":"elon-musk-asks-twitter-if-he-should-sell-billions-in-tesla-stock-latest-move-in-unrealized-gains-tax-battle","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-asks-twitter-if-he-should-sell-billions-in-tesla-stock-latest-move-in-unrealized-gains-tax-battle\/","title":{"rendered":"Elon Musk Asks Twitter If He Should Sell Billions In Tesla Stock, Latest Move In \u2018Unrealized Gains\u2019 Tax Battle"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-asks-twitter-if-he-should-sell-billions-in-tesla-stock-latest-move-in-unrealized-gains-tax-battle%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=980695&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Tesla and SpaceX CEO Elon Musk, who is the wealthiest person in the world, polled his Twitter followers on Saturday on whether he should sell 10 percent of his stock holdings in the electric car company, an apparent dig at the taxation of \u201cunrealized gains\u201d floated by the Biden administration.<\/p>\n<p>\u201cMuch is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,\u201d Musk tweeted. \u201cDo you support this?\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.<\/p>\n<p>Do you support this?<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1457064697782489088?ref_src=twsrc%5Etfw\">November 6, 2021<\/a><\/p>\n<p>\u201cI will abide by the results of this poll, whichever way it goes,\u201d Musk added later. \u201cNote, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1457067398712942592?ref_src=twsrc%5Etfw\">November 6, 2021<\/a><\/p>\n<p>As of Sunday morning, the \u201cYes\u201d vote was leading with 57.3 percent, compared to 42.7 percent for \u201cNo,\u201d with over 3.2 million votes cast.<\/p>\n<p>Musk has over 62 million followers on Twitter, and the sale of 10 percent of his stock would amount to over $21 billion.<\/p>\n<p>In October, Musk openly criticized the tax proposals being pushed by Senator Ron Wyden (D-OR), saying, \u201cEventually, they run out of other people\u2019s money and then they come for you.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">Exactly. Eventually, they run out of other people\u2019s money and then they come for you.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1452792781726961668?ref_src=twsrc%5Etfw\">October 26, 2021<\/a><\/p>\n<p>\u201cDemocrats are poised to consider a plan that would upend tax rules for the wealthiest Americans, as Senate Finance Committee Chairman Ron Wyden makes a late bid for a new capital-gains tax in President Biden\u2019s social-spending and climate-change legislation,\u201d <a href=\"https:\/\/www.wsj.com\/articles\/how-the-billionaires-income-tax-would-work-11635325201?mod=article_inline\">The Wall Street Journal<\/a> reported at the time. \u201cMr. Wyden\u2019s detailed proposal \u2014 annual income taxes on about 700 billionaires\u2019 unsold publicly traded assets such as stocks \u2014 arrives as Democrats are struggling to find up to $2 trillion over a decade to cover the cost of their agenda. They have plenty of ideas that would exceed that figure, but precious few that can muster the support of enough Democrats to get through the narrowly divided Congress.\u201d<\/p>\n<p>\u201cMr. Wyden\u2019s 107-page plan would<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla and SpaceX CEO Elon Musk, who is the wealthiest person in the world, polled his Twitter followers on Saturday on whether he should sell 10 percent of his stock holdings in the electric car company, an apparent dig at the taxation of \u201cunrealized gains\u201d floated by the Biden administration.\u201cMuch is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,\u201d Musk tweeted. \u201cDo you support this?\u201dMuch is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.Do you support this?\u2014 Elon Musk (@elonmusk) November 6, 2021\u201cI will abide by the results of this poll, whichever way it goes,\u201d Musk added later. \u201cNote, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.\u201dNote, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.\u2014 Elon Musk (@elonmusk) November 6, 2021As of Sunday morning, the \u201cYes\u201d vote was leading with 57.3 percent, compared to 42.7 percent for \u201cNo,\u201d with over 3.2 million votes cast.Musk has over 62 million followers on Twitter, and the sale of 10 percent of his stock would amount to over $21 billion.In October, Musk openly criticized the tax proposals being pushed by Senator Ron Wyden (D-OR), saying, \u201cEventually, they run out of other people\u2019s money and then they come for you.\u201dExactly. Eventually, they run out of other people\u2019s money and then they come for you.\u2014 Elon Musk (@elonmusk) October 26, 2021\u201cDemocrats are poised to consider a plan that would upend tax rules for the wealthiest Americans, as Senate Finance Committee Chairman Ron Wyden makes a late bid for a new capital-gains tax in President Biden\u2019s social-spending and climate-change legislation,\u201d The Wall Street Journal reported at the time. \u201cMr. Wyden\u2019s detailed proposal \u2014 annual income taxes on about 700 billionaires\u2019 unsold publicly traded assets such as stocks \u2014 arrives as Democrats are struggling to find up to $2 trillion over a decade to cover the cost of their agenda. They have plenty of ideas that would exceed that figure, but precious few that can muster the support of enough Democrats to get through the narrowly divided Congress.\u201d\u201cMr. Wyden\u2019s 107-page plan would eliminate billionaires\u2019 ability to defer capital-gains taxes indefinitely, and it would impose multibillion-dollar tax bills on people such as Amazon.com Inc. founder Jeff Bezos and Tesla Inc. CEO Elon Musk, who has criticized the plan. It is expected to raise hundreds of billions of dollars over a decade, though the actual amount would depend on stock prices and on whether courts rule the tax unconstitutional,\u201d the outlet continued. \u201cThe money would come from the wealthiest taxpayers, many of whom currently can keep their reported income and tax bills low. Under today\u2019s tax system, they don\u2019t have to pay capital-gains taxes unless they sell their assets, and they can borrow against that wealth to finance their lifestyles.\u201dSen. Wyden responded to Musk\u2019s tweet on Saturday, writing, \u201cWhether or not the world\u2019s wealthiest man pays any taxes at all shouldn\u2019t depend on the results of a Twitter poll. It\u2019s time for the Billionaires Income Tax.\u201dWhether or not the world\u2019s wealthiest man pays any taxes at all shouldn\u2019t depend on the results of a Twitter poll. It\u2019s time for the Billionaires Income Tax. https:\/\/t.co\/KFHw3VZ45H\u2014 Ron Wyden (@RonWyden) November 6, 2021As the BBC noted, Musk \u201crecently said that he would sell $6bn in Tesla stock and donate it to the World Food Program, provided the organisation disclosed more information about how it spent its money.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":77,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-980695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/980695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=980695"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/980695\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=980695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=980695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=980695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}