Rep. James Talarico (D-TX) has criticized Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk's new trillion-dollar pay package approved by investors during last month's shareholder meeting.
‘We Can't Satisfy The Rich,' Says James Talarico
Taking to the social media platform X on Sunday, Talarico criticized Musk in his post. "The reason poverty exists in the wealthiest country on earth isn’t because we can’t feed the poor — it’s because we can’t satisfy the rich," he said in the caption, calling on the government to impose taxes on the wealthiest section of society.
"Do we really believe one man is worth more than every elementary school teacher?" Talarico asked in a video attached to the post. Talarico outlined medical bills bankrupting patients in America, and also brought up homelessness among army veterans.
"I'm all for success," Talarico said, but questioned whether Musk's wealth was success or "hoarding." He also added that the government needs to "tax trillionaires out of existence."
Bernie Sanders Criticizes Elon Musk
The criticism follows Sen. Bernie Sanders (I-VT) recently slamming Musk, urging taxation on the billionaire. He shared that Musk's pay package was worth more than the combined compensation for elementary school teachers, farm workers, bartenders, cashiers and restaurant cooks in the country.
He also questioned the advent of AI, adding that governments would need to ensure that billionaires like Musk do not benefit from using the technology to undermine democracy.
Sanders isn't the only Democratic leader who has criticized the pay package, as Rep. Teresa Leger Fernandez (D-NM) slammed the Tesla CEO, saying that any school teacher had "more work ethic in their pinky finger" than Musk.
Michael Burry Calls Tesla Overvalued
‘The Big Short' investor Michael Burry raised questions over Tesla's market capitalization figures, recently calling the EV giant "ridiculously overvalued." It's worth noting that Tesla is worth more than the combined market capitalization of all of its competitors.
Tesla scores well on Momentum, while offering satisfactory Quality and Growth, but poor Value. It also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
Price Action: TSLA jumped 0.11% to $455.00 at Market close on Friday, but declined 0.07% to $454.66 during the after-hours session, according to Benzinga Pro data.
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