Elon Musk is now worth $1.3 Trillion dollars and he's using it to build a sustainable economy in space. What a waste. If that money was given to the government instead, we could build 4.5 miles of high speed rail 20 years from now.
The data shows the opposite of that view.
Latest IRS data (Tax Year 2022, Tax Foundation):
• Top 1% earned 22.4% of income, paid **40.4%** of federal individual income taxes.
• Top 10% paid **72%**.
• Top 50% paid **97%**.
• Bottom 50% paid **3%**.
Average effective rate: ~26% for top 1%, ~3.7% for bottom half. The federal income tax is highly progressive.
Congratulations to SpaceX on today’s $75B IPO, the largest ever brought to market.
Goldman Sachs is honored to have served as lead left bookrunner on this transaction, but more than that, we are proud of the strong partnership our people have built with the SpaceX team over the long term. I’ve known Elon for more than 15 years, as have several of my colleagues, and it’s been incredible to see his vision come to life and to work with Gwynne, Bret, and the entire team.
We are excited as SpaceX enters this new chapter of its journey as a public company, and we look forward to supporting their mission of advancing the frontier of human space exploration.
@dresswhisperer@EdKrassen@WhiteHouse This is a joke at best stop it. This is not going to get any on killed. Claiming someone is a fascist for stating biology will… they are not the same and let’s not act like they are.
Come again? This FBI and DOJ with our DHS partners drafted and executed every search warrant today. But go ahead and take credit for our work while we smoke out the fraud plaguing Minnesota under your governorship.