{"id":984452,"date":"2021-11-08T11:00:01","date_gmt":"2021-11-08T16:00:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=984452"},"modified":"2021-11-08T11:00:04","modified_gmt":"2021-11-08T16:00:04","slug":"twitter-votes-for-elon-musk-to-sell-billions-in-tesla-stock-spacex-founder-mocks-unrealized-gains-tax-senator","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/twitter-votes-for-elon-musk-to-sell-billions-in-tesla-stock-spacex-founder-mocks-unrealized-gains-tax-senator\/","title":{"rendered":"Twitter Votes For Elon Musk To Sell Billions In Tesla Stock, SpaceX Founder Mocks \u2018Unrealized Gains Tax\u2019 Senator"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">36<\/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%2Ftwitter-votes-for-elon-musk-to-sell-billions-in-tesla-stock-spacex-founder-mocks-unrealized-gains-tax-senator%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=984452&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>This weekend, Tesla and SpaceX CEO Elon Musk polled his Twitter followers, asking whether he should sell 10% of his stock holdings in the electric car company. The final results of the poll were 57.9% in favor, and 42.1% in opposition, with over 3.5 million votes cast.<\/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 Lorde Edge (@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 Lorde Edge (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1457067398712942592?ref_src=twsrc%5Etfw\">November 6, 2021<\/a><\/p>\n<p>Tesla\u2019s share price fell by 5% in early morning trading following the news. <a href=\"https:\/\/www.cnbc.com\/2021\/11\/07\/elon-musk-faces-a-15-billion-tax-bill-which-is-likely-the-real-reason-hes-selling-stock.html\">CNBC<\/a> also reported that Musk may be facing a tax bill of more than $15 billion in the coming months in relation to stock options, and that \u201cthe looming tax bill makes a sale of Tesla stock this year likely regardless of the outcome of the Twitter vote.\u201d<\/p>\n<p>In October, Musk openly criticized the tax proposals being pushed by Sen. 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 Lorde Edge (@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<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This weekend, Tesla and SpaceX CEO Elon Musk polled his Twitter followers, asking whether he should sell 10% of his stock holdings in the electric car company. The final results of the poll were 57.9% in favor, and 42.1% in opposition, with over 3.5 million votes cast.\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 Lorde Edge (@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 Lorde Edge (@elonmusk) November 6, 2021Tesla\u2019s share price fell by 5% in early morning trading following the news. CNBC also reported that Musk may be facing a tax bill of more than $15 billion in the coming months in relation to stock options, and that \u201cthe looming tax bill makes a sale of Tesla stock this year likely regardless of the outcome of the Twitter vote.\u201dIn October, Musk openly criticized the tax proposals being pushed by Sen. 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 Lorde Edge (@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.\u201dWyden 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, 2021Musk, whose Twitter name is \u201cLorde Edge,\u201d appeared to mock the senator, tweeting, \u201cWhy does ur pp look like u just came?\u201dWhy does ur pp look like u just came?\u2014 Lorde Edge (@elonmusk) November 7, 2021The 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-984452","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\/984452","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=984452"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/984452\/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=984452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=984452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=984452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}