Patriotic Millionaires Blast Elon Musk for Billionaires Income Tax Comments

[BeckyDem]

5. We allow him and others like him to be a tax cheat.

How does Musk avoid paying taxes? The answer is that he borrows money from Tesla without taking a salary from his own company. Through stock options, Musk takes out loans against his company’s shares to fund his Tesla projects, which he does not owe income taxes for, and also deducts some of the interest on those loans on his taxes.
https://thehill.com/changing-america/respect/equality/558352-elon-musk-explains-his-extremely-low-tax-rate

He can go to hell.


Yay for the rich people!

Austin neighborhoods facing gentrification pressures, Dallas Fed finds

Recent analysis on incomes and migration patterns in Texas shows that Austin and three other Texas metro areas – Dallas, Houston and San Antonio – have seen significant patterns of gentrification in recent years. The recently released research by the Federal Reserve Bank of Dallas shows that incomes and education levels have greatly increased in the areas closest to city centers, which over the past decade have grown more desirable and caused housing prices to increase, pushing out longtime residents as a result.

The study also found that populations of non-Hispanic whites living three miles or less from a city center are increasing in all four cities, with those populations dropping considerably in suburban areas located five miles or more from a city center.

Economist Yichen Su wrote in the analysis that the influx of higher-wealth residents into central areas brings more quality-of-life options in their wake with displaced residents facing longer commutes and other challenges.
https://www.austinmonitor.com/stories/2020/01/austin-neighborhoods-facing-gentrification-pressures-dallas-fed-finds/