Elon Musk says he will pay over $11 billion in taxes this year

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Elon Musk says he will pay over $11 billion in taxes this year
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Elon Musk faces a hefty tax bill this year — possibly the biggest in U.S. history.

showing Musk and several other billionaires paid no federal income taxes in 2018.Musk could have waited until next year to pay the tax bill, but that would have meant potentially getting hit by higher tax rates under the Democrats' Build Back Better bill.

The Tesla and SpaceX chief has been sparring with prominent Democrats on Twitter lately over the issue of tax avoidance. Last week, he fired back at Senator Elizabeth Warren after she questioned Time Magazine's decision to name Musk its Person of the Year, tweeting: "I will pay more taxes than any American in history this year."

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