Elon Musk Paid $11 billion in Taxes, Wants a Change in Collection Method to Keep Taxpayers Happy; But How?

Elon Musk had a total of $11 billion of tax which the world's top billionaire already settled with the government for all his earnings and valuations in his companies this 2021. The executive is now advocating for a new way to collect taxes that would not feel much of a "collection" but more of people paying it out of their volition.

Elon Musk Pays $11 Billion in Taxes, What's Next?

This week, Musk revealed that he paid a total of $11 billion in taxes for 2021 alone, and that is a whole lot of money for a person's tariffs and his total assets. The money is all coming to the government for their spending and needs, addressing the budget concerns of the country, meant for its citizens.

After paying his dues already, what is next for the CEO?

Well, that is another year of selling and creating innovations for his different companies and another year to tax the executive come to the end of 2022. There are different tax brackets for people, and all need to pay this either monthly or yearly, as dictated by the law.

Failure to do so is a criminal offense and a massive issue.

New Tax Collection Method for the Happiness of People?

Elon Musk is now looking at ways to "maximize" the curve of people's happiness, and that is saying a lot because he is talking about taxes and their collection. The CEO is looking at a new way to "collect" taxes without it being felt like a requirement or coinciding with people's happiness.

Elon Musk and his Run-ins with Taxes, Politicians and UN's WFP

Elon Musk is known for his issues against politicians who tell him to pay his taxes and are not charged enough for his earnings and revenue from his businesses or companies. He once had an altercation with Senator Elizabeth Warren, to which he called "Senator Karen" and said that he is not a freeloader in this country.

Another issue Musk had was with the United Nation's World Food Programme that asked the CEO about his earnings and has it had been donated to charity and solved world hunger. Musk made the director provide public records and other information to see the organization's spending before he presents money to the people the organization serves.

These are only a few of the many run-ins with the law person and people with massive influence in social media and the public service. Nevertheless, Musk has not shown any violent reaction to the immense pressure put upon him by these people, especially as he claimed that he pays his taxes correctly, which he has now demonstrated.

This article is owned by Tech Times

Written by Isaiah Richard