Elon Musk Brutally Destroys Biden After He Says Billionaires Don’t Pay Their ‘Fair Share’

OPINION | This article contains commentary that reflects the author's opinion.

It’s no secret that 80-year-old President Biden isn’t the sharpest tool in the shed, especially when confronted by SpaceX and Tesla chief engineer Elon Musk.

In a tweet, Biden rhetorically asked Americans, “You know the average tax billionaires pay?”

“Three percent,” Biden said, answering his own question with a lie.

“No billionaire should be paying a lower tax than somebody working as a schoolteacher or a firefighter,” Biden said in another lie.

He continued, “Look, I think you should be able to be a billionaire if you can earn it, but just pay your fair share.”

“I think you ought to pay a minimum tax of 25%,” Biden added. “It’s about basic fairness.”

Biden’s lie was quickly fact-checked by PolitiFact and Twitter boxx Elon Musk.

Musk shot back, “I paid 53% taxes on my Tesla stock options (40% Federal & 13% state), so I must be lifting the average!”

“I also paid more income tax than anyone ever in the history of Earth for 2021 and will do that again in 2022.”

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Musk’s response garnered nearly 30,000 retweets, over three times the number who retweeted Biden’s original statement.

Readers added context to Biden’s tweet as well to show that the president’s claim relies on taxing unrealized gains on unsold stocks as income, something not eligible to be taxed under current IRS laws. Nearly 18,000 tweets were sent in response to Biden’s statement, a “ratio” that suggests more people disagreed than agreed with the statement.

Following up to his original tweet, Musk agreed that tax-avoidance schemes by the ultra-rich should be discouraged.

He also called for ending GRATs, or grantor retained annuity trusts, a type of financial instrument often used to make high-dollar gifts to family members without being taxed.

This isn’t the first time that Musk has openly clashed with Democratic Party progressives seeking overhauls of the US tax system. In 2021 he clapped back at US Senator Elizabeth Warren (D-Ma.) for citing Musk, who was named Time’s Person of the Year, as a “freeloader living off the backs” of everyday American workers. Musk again cited that he paid the most taxes in 2021 and added, “Please don’t call the manager on me, Senator Karen 🙏.”