There was a Twitter tempest-in-a-teapot this weekend with Musk and Sanders duking it out.
We live in turbulent times, and the automotive industry is one of the most accepted of all. Not only has the pandemic closed factories and disrupted the expo scene, but it has highlighted what some perceive to be fundamental shortcomings in the capitalist system. Automotive giants such as Tesla have continued to see solid growth despite setbacks, and its CEO Elon Musk continues to climb the ranks of the richest people on Earth. Musk recently made headlines for selling a sizable chunk of his Tesla stocks after a Twitter poll which sent Tesla stock prices tumbling, and now the eccentric businessman has found himself scrapping with Bernie Sanders over tax reforms. There's never a dull moment with Musk.
Musk last Sunday got into a Twitter spat with Senator Bernie Sanders when Sanders tweeted that the wealthy should pay more in taxes. Specifically, the Senator took to Twitter saying, "We must demand that the extremely wealthy pay their fair share. Period."
Musk, who is known for his love of social media smack talk, responded to Sander's tweet saying "I keep forgetting that you're still alive." Musk continued his social assault by asking Sanders if he should sell even more Tesla stock: "Want me to sell more stock, Bernie? Just say the word," he said.
Last week Musk sold off 10% of his Tesla stocks after 57.9% of his followers voted in favor of the idea on Twitter.
Sanders' request comes amidst calls from the public and US Senate Democrats to tax billionaires' stocks and other tradable assets. The rich are currently allowed to defer capital gains taxes indefinitely, and the new proposal aims to close that loophole. Musk, who lives a 'minimalist' life despite being one of the richest men alive, won't lose much sleep as Tesla continues to increase the prices of popular models such as the Model Y and people continue to buy them. Tesla's move into home charging systems for other makes of EVs is also a sure way to increase profits over the long run.