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.
@POTUS 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?
@POTUS @CommunityNotes I certainly agree that everyone should pay taxes and not engage in elaborate tax-avoidance schemes. Would be curious to hear how these other “billionaires” are so good at avoiding taxes! We should get rid of GRATs, but maybe other things too.
@elonmusk @POTUS @CommunityNotes If you never sell and then die, capital gains tax = zero. If you buy appreciating real estate that you depreciate under the tax laws, then die, you can get tax free income in the meantime and never pay makeup cap gains tax. And so on. There are lots of pages in the tax code.