City
Epaper

Pramila Jayapal slams Elon Musk for bragging about paying tax

By IANS | Updated: December 30, 2021 10:40 IST

San Francisco, Dec 30 After Pramila Jayapal, the first Indian-American woman to serve in the US House of ...

Open in App

San Francisco, Dec 30 After Pramila Jayapal, the first Indian-American woman to serve in the US House of Representatives, took on Elon Musk for not paying enough taxes and bragging about it, while Republican Senator Ted Cruz has also criticised the Tesla CEO for "looting" the country.

In a tweet, Jayapal said: "Elon Musk made $36 billion in one day, but wants to brag about paying an $11 billion tax bill. Oh yeah, he also added more than $270 billion in wealth just since the pandemic started.

"Time for the rich to pay their fair share."

Reacting to her tweet, Cruz said late on Wednesday: "Got it. You don't like @elonmusk, Who else do you want to loot?"

Musk was yet to reply to either Jayapal or Cruz, who is a staunch critic of the Tesla CEO for not paying enough taxes, on Twitter.

The world's richest person has a net worth of nearly $280 billion.

"With a top tax rate of 40.8 per cent, he faces a federal tax bill of about $10.7 billion," according to reports.

Musk has also said on Twitter that he'll pay more than $11 billion in taxes this year.

"For those wondering, I will pay over $11 billion in taxes this year," he tweeted last week.

The disclosure came as Musk and other billionaires in the US are facing increasing scrutiny over the amount of tax they pay.

In early November, Musk started selling off billions worth of Tesla shares, which involves paying a combined tax rate of over 53 per cent, according to CNBC.

Earlier this year, ProPublica reported that Musk paid zero federal income tax in 2018, and only paid $455 million in taxes in the previous four years despite his wealth growing by $13.9 billion.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: San FranciscousHouse Of RepresentativesTwitterPramila jayapalTed Cruz
Open in App

Related Stories

InternationalColorado Nightclub Raid: Over 100 Illegal Immigrants Detain at Underground Nightclub in US; Video Surfaces

BusinessGlobal Tech Firms Eye India for Manufacturing Amid US-China Tensions

InternationalIllinois Plane Crash: 4 Killed After Cessna C180G Aircraft Goes Down After Hitting Power Lines in Trilla

NationalPM Narendra Modi Discusses Tech and Innovation Collaboration With Elon Musk

Social Viral'Indians Take Dolo 650 Like It’s Cadbury Gems': US-Based Doctor’s Tweet Sparks Funny Memes and Jokes Online

Technology Realted Stories

Technology‘WAVES 2025’ brings spotlight on India’s vibrant media and entertainment sector

TechnologyApple logs highest-ever shipment volume in India at 29 pc growth in March quarter

Technology75 pc of Indian businesses localise data as AI becomes core to strategy: Report

TechnologyPunjab starts first-of-its-kind B.Tech programme

TechnologyDynamic curriculum, continuous evolution of training modules key to stay relevant: Jitendra Singh