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Bernie Sanders wants Elon Musk to pay a one-time $27.5 billion tax

Credit: YouTube | MKBHD, Twitter | @BernieSanders

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Tesla CEO Elon Musk is one of four billionaires that could be forced to pay a one-time multi-billion dollar tax if a bill introduced by Vermont Senator Bernie Sanders is passed through the United States’ Senate.

The “Make Billionaires Pay Act” was introduced by Sanders, an Independent from Vermont, along with Democrats Ed Markey from Massachusetts and Kirsten Gillibrand of New York.

The act proposes a one-time, 60% tax on any wealth gains that billionaires have made between March 18th, 2020, and January 1st, 2021. The money made from imposing the tax on some of the nation’s wealthiest people would be used to pay out-of-pocket-healthcare expenses for Americans.

If passed, it would tax around $731 billion in wealth that has been collected by 467 different billionaires since March 18th, a press release from Sanders’ website says.

“According to Americans for Tax Fairness and Institute for Policy, if we taxed 60 percent of the windfall gains these billionaires made from March 18th until August 5th we could raise $421.7 billion,” the release said. “That’s enough revenue to allow Medicare to pay all of the out-of-pocket healthcare expenses for everyone in America over the next 12 months.”

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Musk would be required to pay a hefty $27.5 billion sum of his recent earnings, which includes tranches of his Tesla bonus structure. However, Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg would also pay considerable amounts of recently acquired wealth. The two tech CEOs would payout $42.8 billion and $22.8 billion, respectively.

Additionally, the Walton family, famous for Wal-Mart and Sam’s Club, would pay a $12.9 billion tax.

The tax would adequately take care of many medical and hospital bills that have been accrued by American families since the start of the COVID-19 pandemic. Cases of the virus have continued to rise after leveling off from April to mid-June. After June 15th, U.S. cases began to rise again, with the most confirmed cases being recorded in California, Florida, and Texas.

Since the beginning of the pandemic, 160,000 Americans have died because of the virus.

In terms of Musk’s participation in the bill, his $38.5 billion acquisition since the March 18th starting period of the proposed tax plan has been gained from a gain in Tesla’s market capitalization and an increase in stock price. Musk does not accept a usual salary from his employer, but he does receive the California State minimum salary, which he says he has never touched.

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“I don’t cash it,” he told the New York Times. “It just ends up accumulating in a Tesla bank account somewhere.”

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla Cybercab is heading to China’s import expo

The event will take place from November 5–10 at Shanghai’s National Exhibition and Convention Center.

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Credit: Tesla Europe & Middle East/X

Tesla will make its return to the China International Import Expo (CIIE) this November, marking its first appearance at the event since 2022. The U.S. electric vehicle maker confirmed it will showcase its highly anticipated Cybercab, which will make its Asia-Pacific debut during the event. 

The expo will take place from November 5–10 at Shanghai’s National Exhibition and Convention Center.

Tesla Cybercab in China

Tesla announced its participation in the event on its official Weibo account. As per the electric vehicle maker, it would be occupying Booth A3-03 in Hall 2.1 at the National Exhibition and Convention Center. As noted in a CNEV Post report, the Cybercab, the company’s dedicated autonomous two-seater Robotaxi, will be making its Asia-Pacific debut at the CIIE as well. 

The company shared a graphic on Chinese social media which showed an image featuring several Tesla products, such as the Cybercab, Optimus, and Megapack batteries. The graphic also featured a building that read “Master Plan Part IV.”

Tesla’s momentum in China

Tesla’s return comes after skipping the event last year. Interestingly enough, Tesla attended the event from 2018 all the way to 2023. Tesla’s return to the CIIE then aligns with the company’s efforts to attract consumer interest in the world’s most competitive electric vehicle market. 

The Cybercab’s presence in the event could suggest that Tesla might be interested in bringing its Robotaxi to the country. This is quite interesting as China is already home to several autonomous ride-hailing services, though Tesla’s pure vision approach, which focuses on artificial intelligence and cameras, is quite unique. So far, Tesla has only rolled out its autonomous ride-hailing services in Austin, Texas, and the Bay Area, California.

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Tesla Semi factory looks nearly complete

Based on recent images taken of the facility, it appears that the Semi’s initial production might be right on schedule.

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Credit: @HinrichsZane/X

The Tesla Semi factory looks like it is nearing completion. Based on recent images taken of the facility, it appears that the Semi’s initial production might be right on schedule.

This was, at least, as per recent observations from a veteran Tesla watcher who has long been chronicling the progress of the facility. 

Tesla Semi factory today

As per longtime Tesla Semi advocate @HinrichsZane, the Class 8 all-electric truck’s factory in Nevada looks almost completed. The facility’s exterior looks finished, which suggests that much of the work being done today is likely focused on the factory’s interior and equipment. 

This was highlighted in recent photos taken by the drone operator, which show that the facility’s parking lots are now filled with vehicles. A photo taken before dawn also highlighted just how refined the factory has become over the past months. Needless to say, it appears that the factory is all but ready to start the initial production of the Tesla Semi.

Deliveries and targets

Tesla has stated that the Semi factory will start producing the Class 8 all-electric truck by 2026. This was stressed by Elon Musk in a previous comment on X, when he stated that “Tesla Semi will be in volume production next year.” Once ramped, the facility will be capable of producing about 50,000 Tesla Semi units annually. This should help the Semi disrupt and potentially saturate the United States’ transport sector.

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Progress in the Tesla Semi factory has been notable in the past months. Just a few months ago, drone footage of the site revealed that Tesla was shipping extremely large production equipment into the facility. These included what appeared to be a gigantic stamping machine that was so large and heavy that it was shipped to the Semi factory using two diesel trucks and a triple trailer.

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FIRST LOOK: Tesla Cybertruck police cruiser interior

The LVMPD released a new video of the police cruisers that were donated by billionaires Ben and Felicia Horowitz.

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Credit: LVMPD | X

The first look at the Tesla Cybertruck police cruisers for the Las Vegas Metro Police Department has been going around as the city begins to add them to its active fleet.

The LVMPD released a new video of the police cruisers that were donated by billionaires Ben and Felicia Horowitz, showing their design, as well as the first look at the front of the vehicle where police will sit, as well as the back where the criminals will think about their actions.

Sheriff Kevin McMahill commented on the addition of the Cybertrucks to the fleet, which includes recognition of their symbolism regarding the mission of the Department itself:

“These represent something bigger than a police vehicle. They represent innovation and our continued commitment to serve this community with the best tools available — safely, efficiently, and responsibly. They can handle everything from Fremont Street to Red Rock Canyon.”

The LVMPD had the Cybertrucks primed for law enforcement use by Upfit Tesla, a division of Unplugged Performance, the unequivocal leader in performance upgrades for Teslas.

The first look at the interior of the police cruisers is awesome to see, especially as it shows the Cybertruck’s ability to cater to every and any application for personal or professional use.

The front of the Cybertruck police vehicle shows an interior fully outfitted for a shift in Las Vegas. A laptop is mounted next to the center touchscreen, and siren and light controls are located in the center for easy access for officers:

The rear of the cruiser is plain and fitted with plastic seats, typical for the transportation of criminals and suspects, as well as a partition that appears to be made of ballistic glass, helping to protect officers from those they have arrested. It is also reinforced with steel and foam lines the top of the partition:

The fleet was donated shortly after a Cybertruck exploded at the front entrance of Trump Tower in Las Vegas in January. While the person inside lost their life, the Cybertruck’s ability to muffle most of the blast and keep damage relatively limited to the building impressed many.

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