Elon Musk Responds To Biden’s “Pay Your Fair Share” Tax Tweet

Image Credit: Hannibal Hanschke-Pool/Getty Images

The world’s richest man Elon Musk has responded to a tweet sent out by Joe Biden calling for higher taxes for billionaires, noting that he’s paid more tax than any human ever in the history of the planet.

Biden sent out the following tweet calling on rich people to “pay your fair share,” along with a claim that the average tax billionaires pay is three percent.

Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.

I think you ought to pay a minimum tax of 25%.

It’s about basic fairness. pic.twitter.com/oHgreYCdUz

— President Biden (@POTUS) March 18, 2023

Musk responded, noting that he paid a whopping 53 percent tax on Tesla stock options at both the state and federal level, and that he paid more taxes than any person on Earth in 2021 ($11 billion) and will do so again for the 2022 fiscal year.

Musk also called for a fact check on Biden’s three percent claim.

I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!

I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.@CommunityNotes, is the 3% number cited above accurate?

— Elon Musk (@elonmusk) March 18, 2023

Musk’s call led to the following correction from the Tax Foundation being added to Biden’s tweet, showing how Biden is either just flat wrong or lying:

Others chimed in on Musk’s comments:

Don't disturb the narrative with facts

— CTO Larsson (@ctoLarsson) March 19, 2023

The country would be much better off if you were able to keep that money, and were able to invest it productively, rather than turning it over to government to blow it on consumption. Our nation will suffer a lower standard of living as a result.

— Peter Schiff (@PeterSchiff) March 19, 2023

Correct, its horrifying to see what they waste our money on. They burn it, they send it to Ukraine launder and spread to their friends and back to themselves.

— Myamoto Musashi (@M3yamotoMusashi) March 20, 2023

They can’t even manage their own spend and they expect billionaires to cover it. Even if you taxed billionaires 100% it wouldn’t stop our fundamental issues.

— Tesla Owners Silicon Valley (@teslaownersSV) March 18, 2023

While others had some choice responses for Biden:

Does that include the money you sold us out for to Ukraine and the CCP?

— Lori Mills (@LoriMills4CA42) March 19, 2023

The claim that billionaires pay only 3% taxes is highly deceptive. It's based on counting unrealized capital gains as income–which they're not. Look–we can have a debate about how much to tax people, but let's keep the debate honest.

— Michael Isenberg (@TheMikeIsenberg) March 18, 2023

Except most billionaires are employing hundreds if not thousands. They're contributing to the growth and sustainability of society. They should be incentivized for that, not punished.

There should be a flat tax for all citizens, regardless of income. That is true equality.

— Joel Bodker (@Joelbodker) March 18, 2023

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