US Lawmakers' Dig At Elon Musk For Bragging About Paying $11 Billion In Taxes

 The CEO of Tesla Motors and Space-X, Musk had on December 20 tweeted: "For those pondering, I will pay more than $11 billion in charges this year." The expense bill is considered as one of the greatest in US history.

Top US administrators, including Indian-American Congresswoman Pramila Jayapal, have censured Elon Musk, the world's richest man and Tesla Motors CEO Elon Musk for boasting about paying USD 11 billion in charges.

In a tweet on Wednesday, Texas Senator Ted Cruz said, "Got it. You don't like @elonmusk Who else would you like to plunder?" The Republican Senator's tweet was in light of a post on Twitter by Jayapal, a Democrat, attacking Musk for flaunting his expense bill.

"Elon Musk made $36 BILLION of every one day, yet needs to boast about paying a $11 billion duty charge," she said in a tweet.

"Gracious definitely, he likewise added more than $270 BILLION in abundance just since the pandemic began," she said, adding that it was the ideal opportunity for the rich to pay their reasonable part.

The CEO of Tesla Motors and Space-X, Musk had on December 20 tweeted: "For those pondering, I will pay more than $11 billion in charges this year." The expense bill is considered as one of the greatest in US history.

Prior, Democratic Party Senator Elizabeth Warren, alluding to Musk, had tweeted, "How about we change the manipulated charge code so The Person of the Year will really make good on assessments and quit freeloading off every other person." This prompted an appalling disagreement between the two with Musk answering, "And in the event that you opened your eyes for 2 seconds, you would acknowledge I will pay a larger number of duties than any American in history this year." Musk has auctions off USD 14 billion worth of Tesla stock since early November, in the wake of asking his devotees in a Twitter survey assuming he should sell 10% of his property. In the survey, his supporters said he should pay.

Yet, it's probable Musk would have started selling at any rate. That is on the grounds that he faces an enormous duty bill on Tesla investment opportunities, as per a previous CNBC report.

Musk's abundance comes from stock honors and gains in Tesla's portion cost.

However Tesla shares have taken a tumble since Musk's Twitter survey, they remain unimaginably important - the stock is up 28% year-to-date, the report said.

He might have delayed until the following year to cover the assessment bill, yet that would have implied conceivably getting hit by higher duty rates under the Democrats' Build Back Better charge, it said.

The report cited a ProPublica examination showing that Musk and a few different extremely rich people paid no government personal expenses in 2018.

Somewhere in the range of 2014 and 2018, Musk paid USD 455 million in charges on USD 1.52 billion of pay, notwithstanding his abundance developing by $13.9 billion over that period, it said.

Musk was conceded the offer choices in 2012 as a component of his compensation bundle, and the choices vested as Tesla hit different monetary and functional focuses in resulting years. In any case, he didn't need to pay charges on the choices until he practiced them, which he began to do in November, a CNN report said on Wednesday.