Elon Musk said his taxes are audited every year 'by default' - after posting a debunked Republican claim that the IRS is hiring 87,000 new agents




Tesla and SpaceX CEO Elon Musk.Angela Weiss/AFP via Getty Images
Tesla and SpaceX CEO Elon Musk.Angela Weiss/AFP via Getty Images  
  • Elon Musk said on Twitter he has his taxes audited every year "by default."

  • He'd earlier posted a meme featuring a debunked Republican claim that the IRS is hiring 87,000 new agents.

  • The meme appears to link the debunked IRS claim with the American War of Independence.

Elon Musk said Thursday that his taxes are audited every year "by default" after posting a meme featuring a debunked Republican claim about the IRS.

Republicans including House Minority Leader Kevin McCarthy said this week that $80 billion in new funding for the IRS, from the new Inflation Reduction Act, would go towards hiring 87,000 new IRS agents. The claim has been debunked by several outlets.

Musk shared a meme on Twitter on Thursday with the caption: "When the country that revolted over taxes hires 87,000 new IRS agents," accompanied by an image of a grinning redcoat. The meme appears to link the debunked IRS claim with the American War of Independence, which was sparked by colonists' anger over British taxes.

"Redcoat" is a colloquial term for a British soldier in the Revolutionary War.

A Twitter user responded to Musk's post saying: "They're not going after you, they're coming for us."

Musk replied: "True. I already get audited every year by default."

Musk is currently the world's richest person, according to Bloomberg, which estimates his wealth at $253 billion.

Last year, ProPublica published a bombshell report that found that Musk paid no federal income tax in 2018. His wealth grew by $14 billion from 2014 to 2018, but he only paid $455 million in taxes, ac coding to the report.

Senate Democrats have approved a huge climate, tax, and healthcare spending package which is set to provide the IRS with $80 billion over the next decade, with a focus on improving taxpayer services and cracking down on enforcement on wealthy people and big companies.

"The IRS has fewer front-line, experienced examiners in the field than at any time since World War II, and fewer employees than at any time since the 1970s," IRS Commissioner Charles Rettig said in a letter to the Senate in early August. With the funding package, "enhanced IT systems and taxpayer service will actually mean that honest taxpayers will be better able to comply with the tax laws, resulting in a lower likelihood of being audited and a reduced burden on them," he added.

Insider's Juliana Kaplan reported that the IRS is understaffed, underfunded, and backed up with unprocessed tax returns.

COMMENTS

More Related News

Elon Musk X: What life is like on a super-app in Asia
Elon Musk X: What life is like on a super-app in Asia

In Asia, super-apps are already a vital part of everyday life, with everything available at a click of a button.

Pound holds steady after Fitch drops UK credit outlook to
Pound holds steady after Fitch drops UK credit outlook to 'negative' - live updates

Income taxes to rise by £21bn despite Budget cuts FTSE 100 closed at 7,052.62 on Wednesday, FTSE 250 at 17,562.42 Dow Jones closed at 30,273.87, S&P 500 at...

Musk Deposition Delayed in Twitter Suit as Buyout Moves Ahead
Musk Deposition Delayed in Twitter Suit as Buyout Moves Ahead

(Bloomberg) -- Elon Musk and Twitter Inc. agreed to postpone the billionaire's long-awaited deposition in the company's lawsuit aimed at forcing him to go...

Three reasons Washington is freaking out about Elon Musk right now
Three reasons Washington is freaking out about Elon Musk right now

A takeover of Twitter by Elon Musk could create headaches for Democrats and Republicans alike, with a potential return of Donald Trump and explosion of...

Twitter under Musk? Most of the plans are a mystery
Twitter under Musk? Most of the plans are a mystery

Musk, the CEO of Tesla Motors and SpaceX and Twitter's most high-profile user since former President Donald Trump was booted from it, has shared few concrete...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

  • Bobbygef
    (2022-08-12 16:49:51Z)

    canadian drugstore [url=https://linktr.ee/canadianpharmacies#]canadian pharmacies online [/url]
    apollo pharmacy online canadian pharmacy online
    canada online pharmacies https://linktr.ee/canadianpharmacies

    REPLY
  • Bobbygef
    (2022-08-12 17:40:55Z)

    ace inhibitor cialis [url=https://linktr.ee/buycialisonline#]cialis generic tadalafil online [/url]
    cialis 10 mg test viagra vs cialis
    is generic cialis real https://tadalafil20mg.proweb.cz/

    REPLY
  • Bobbygef
    (2022-08-12 19:48:56Z)

    online pharmacy canada pharmacies shipping to usa
    on line pharmacy pharmacies shipping to usa
    medical pharmacies https://graph.org/Pharmacies-in-canada-shipping-to-usa-08-12

    REPLY
  • Bobbygef
    (2022-08-13 02:31:56Z)

    alternative a viagra e cialis cialis generic
    cialis in spanien bestellen buy cialis online
    efficacy of cialis vs viagra https://kasheras.livejournal.com/283.html

    REPLY
  • Bobbygef
    (2022-08-13 11:35:39Z)

    cialis attorneys online cialis
    cialis fda approval buy cialis
    cialis 20mg tuoteseloste https://form.jotform.com/ogmyn/buycialisonline

    REPLY
  • Bobbygef
    (2022-08-13 13:12:04Z)

    canadian pharmacy online viagra online drugstore pharmacy
    viagra generic online pharmacy canadian pharmacy online
    pharmacy online https://linktr.ee/canadianpharmacies

    REPLY

Top News: Economy