April 27, 2022

Bloomberg: Musk’s Untaxed Wealth Opens a Path to Twitter, Riling Democrats

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“If you look at Musk’s ‘income’ as defined by our tax code, you see that the guy is really rich, but not rich enough to buy Twitter,” Steve Wamhoff, the director of federal tax policy at the left-leaning Institute on Taxation and Economic Policy, said. “When you look at a more complete definition of his income — including the parts that are not included as taxable income under our tax rules and thus not taxed — then you start to see how the guy can buy Twitter.” Read more