Sen Eliz Warren: Billionaires Have 'Enough Money To Shoot Themselves Into Space' They Dont Pay Taxes [View all]
- Business Insider/MSN, Oct. 13, 2021. 'Sen. Elizabeth Warren says billionaires have 'enough money to shoot themselves into space' because they don't pay taxes.' - Excerpts, Ed.
In an interview with "The View" on ABC, the Massachusetts senator discussed President Joe Biden's trillion-dollar legislative plan, saying that Democrats want to make the ultra-rich pay higher taxes to help cover its costs. "The money is going to come from the billionaires who don't pay their taxes and therefore have enough money to shoot themselves into space," Warren said. "It's going to come from giant corporations like Amazon," she continued.
Amazon founder Jeff Bezos, the 2nd richest person in the world, in July flew to the edge of space on a rocket built by his space company, Blue Origin. The move prompted criticism. Before then, more than 185,000 people signed petitions not to allow him to return to Earth. "Billionaires should not exist...on earth, or in space, but should they decide the latter they should stay there," a description read. Bezos did not pay federal income taxes in 2007 & 2011, according to a bombshell report of IRS documents published by ProPublica in June. Amazon also paid no federal taxes in 2017 & 2018. Over the years, the billionaire has seen his wealth increase, with a current net worth over $190 bill.
The world's richest person, Elon Musk, likewise saw his wealth grow but paid a small amount in taxes, according to the ProPublica report. From 2014 to 2018, Musk's wealth increased by $13.9 bill, but he reported only $1.52 bill worth of taxable income to the IRS. Comparing the $455 mill he paid in taxes to his wealth gains, ProPublica said Musk paid a "true tax rate" of 3.27%. Musk also has his own space company, SpaceX. He has not traveled to space yet, but has paid for a ticket for a future flight on Virgin Galactic, a company founded by fellow billionaire Richard Branson.
Democrats have blasted big companies and the ultra-wealthy for avoiding taxes and for not paying what they describe as their "fair share" in taxes.
"I'm sick and tired of the super-wealthy and giant corporations not paying their fair share in taxes," Biden tweeted last month. "It's time for it to change." Biden's spending package would increase investments in education, healthcare, childcare, & climate, aiming to boost the working class of the country...
- More + Video, The View,
https://www.msn.com/en-us/news/other/sen-elizabeth-warren-says-billionaires-have-enough-money-to-shoot-themselves-into-space-because-they-don-t-pay-taxes/ar-AAPtPbq
Link to tweet
= new reply since forum marked as read