Demand Progress

Elon Musk is funding his own right-wing super PAC. He’s union busting. He’s playing dangerous games with Twitter and plowing ahead with billions of dollars in defense contracts between SpaceX and the federal government. And Trump recently said that he’d consider Musk for a Cabinet position.¹

Musk is a billionaire with way too much influence in our political system. While his super PAC backs Trump² and he exploits workers at his three mega-corporations, he’s making more and more money.

Elon Musk has too much political power because he has too much money. Congress must change the tax code and ensure billionaires like Musk are paying their fair share!

Sign the petition: End tax breaks for the ultra-wealthy! Tax Elon Musk and his billionaire friends now.

Musk is benefitting from a broken American tax system that favors billionaires and their corporations. When a few billionaires can manipulate our political system, it threatens our democracy.

The ultra-rich and corporations are paying less in taxes since the Trump tax cuts were passed in 2017. The Trump administration’s signature tax policy slashed the corporate tax rate from 35% to 21%, and created huge loopholes that are allowing America’s largest corporation to pay WAY less in taxes.³

The power of billionaires threatens workers, consumers, voters, and every facet of a democratic society. Congress must rein in Musk by raising taxes on the ultra-wealthy and corporations.

Sign the petition: Tax Elon Musk, the ultra-wealthy, and corporations! Congress must act on economic inequality and the preservation of our democracy.

Sources:

1. Bloomberg News, “Trump Says He’d Add Musk to Cabinet If Tesla CEO Has Time for It” August 26, 2024.
2. Wall Street Journal, “Inside Elon Musk’s Hands-On Push to Win 800,000 Voters for Trump,” August 12, 2024.
3. Institute on Taxation and Economic Policy, “Corporate Tax Avoidance in the First Five Years of the Trump Tax Law,” February 29, 2024.