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AP National

‘Stupid’ and ‘insane’: Some billionaires vent over tax plan

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Published 10:37 AM

By HALELUYA HADERO
AP Business Writer

Elon Musk isn’t happy. With a personal fortune that is flirting with $300 billion, the Tesla CEO — the richest person on earth — has been lashing out at a Democratic proposal to tax the assets of billionaires like him. The idea behind the Democratic plan is to use revenue from a billionaires tax to help pay for a domestic policy package being negotiated in Congress that would, among other things, help combat climate change, provide universal prekindergarten and expand health care programs. The proposal wasn’t included in President Joe Biden’s framework for the domestic policy package released Thursday, though that deal among Congressional Democrats isn’t final.

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