Musk’s massive tax payment won’t make a dent in Uncle Sam’s pile of debt
Tesla founder Elon Musk made social media headlines when he got into a bit of an argument with Massachusetts Sen. Elizabeth Warren over taxes.
Warren fired the first shot, demanding Musk “actually pay taxes and stop freeloading off everyone else.”
That’s rich coming from a someone on the public payroll. But Musk later let it be known that he will indeed pay taxes. Lots of taxes: “For those wondering, I will pay over $11 billion in taxes this year.”
While that’s an extraordinary amount of money for one person to hand over to the state, it’s also a little more than a rounding error compared to the more than $29 trillion national debt.
Sen. Warren may have a looter’s instincts when it comes to other people’s wealth and property. But even her voracious appetite for that wealth pales to what Uncle Sam owes his creditors. And when they come demanding payment, even Warren’s ilk will balk at the price tag. Or…they will simply take the old fashioned approach, and loot someone else’s fortune.