Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Elon Musk tweets he has better plans for his money that Dems want to take

Elon Musk tweets he has better plans for his money that Dems want to take

Elon Musk has already made it clear that he is no fan of Democrats' proposal targeting ultra-wealthy Americans for extra taxes.

Now, the Tesla CEO has revealed that he already has plans for the extra billions of his money that the Biden administration wants to put toward the president's massive social spending agenda.

03 September 2020, Brandenburg, Grünheide: Elon Musk, Tesla boss, comes to the construction site of the Tesla Giga Factory.


The proposal would tax the unrealized capital gains of billionaires and those who pull in $100 million or more of income three years in a row, and those impacted would be taxed on the appreciated value of assets like stocks and real estate even though they still own them.

The White House estimates the new taxes could put another $200 billion in government coffers over a decade. According to one report, a big chunk of that would be paid by Musk and Jeff Bezos, the founder of Amazon, who has traded off with Musk as wealthiest man on the planet.

SpaceX founder Elon Musk (left), Blue Origin founder Jeff Bezos (right).


The Washington Post's Christian Davenport tweeted Tuesday, citing one of the newspaper's articles, that "Musk would pay as much as $50 billion under the tax over its first five years, while Bezos could pay as much as $44 billion."

Davenport commented, "That could pay for a Mars mission."

In response, Musk tweeted Thursday, "My plan is to use the money to get humanity to Mars and preserve the light of consciousness."

Musk and Bezos are currently battling each other in a billionaires' space race with their respective competing aerospace firms SpaceX and Blue Origin. While many hail the entrepreneurs' efforts for advancing technology and sending more people outside the atmosphere, they have also faced criticism from those who believe their wealth would be better spent here on planet Earth.

While Democrats have other plans for the money, too, Musk warns that even if their plan passes, the government won't stop at squeezing just the wealthy for more.

He tweeted earlier this week, "Eventually, they run out of other people’s money and then they come for you."

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
×