Democrat Senator Ron Wyden (OR) has recently faced fierce criticism from his own son, Adam Wyden, over new proposals for taxing billionaires. The criticism emerged as the senator engaged in a strange Twitter spat with Tesla and SpaceX founder Elon Musk.
Senator Wyden’s son commented directly on the Twitter exchange that took place back and forth between Musk and the senator. Over the course of the exchange, Musk, who is presently the wealthiest person in the world, made a bizarre comment about the senator’s appearance in his profile photo.
The fiery exchange on Twitter commenced after Musk polled his multiple millions of followers over whether or not he should sell upwards of $20B or more of Tesla stock. Musk’s poll emerges in response to Senator Wyden’s advocacy for a new tax proposal for billionaires, which would tax the unrealized capital gains of various billionaires.
After Musk sent out a poll on Twitter asking whether or not he should sell Tesla stock, Senator Wyden promptly seized on Musk’s tweet in an attempt to justify the proposal for taxing unrealized capital gains.
“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll,” Senator Wyden brayed, “it’s time for the Billionaires Income Tax.”
Why does ur pp look like u just came?
— Elon Musk (@elonmusk) November 7, 2021
Musk replied with a rather crude retort to Senator Wyden’s profile picture.
Shortly thereafter, the senator’s son, Adam Wyden, who is the founder of ADW Capital Partners and a highly successful investor, jumped into the social media fray.
“Why does he hate us [and] the American dream so much?!” Adam Wyden demanded.
“Reality is: most legislators have never built anything,” he continued, adding, “so I guess it’s easier to mindlessly and haphazardly try and tear stuff down.”
The investor also threw in a gleeful comeback that should give many legislators a pause.
“Thankfully, I think I can compound faster than my dad and his cronies can confiscate it,” Adam Wyden chuckled, before rattling off a list of various ticker symbols for different stocks and equities.
— Adam “Tikkun Olam” Wyden (@Adam_Wyden) November 8, 2021
In an email sent on Monday to the Washington Examiner, Adam Wyden confirmed that the Twitter account is his official account.
The Democrat senator’s son has transformed into a highly competent investor. In a Forbes story published earlier in the year, the younger Wyden has successfully grown his bar mitzvah money and other savings into a significant fortune.
Presently, Adam Wyden manages a highly successful $350M hedge fund.
On the other hand, Senator Wyden has proposed policies that would significantly stymie his son’s success, as well as the success of many other hardworking entrepreneurs, including Musk.
The liberal Senator has long been a fan of mark-to-market accounting, and he has fiercely advocated adding a 23.8 percent annual tax to the unrealized capital gains of various billionaires. The elder Wyden asserts that such a tax will presumably pay for the entirety of the Democrat climate change agenda, as well as the party’s massive, multi-trillion dollar social spending package.
However, other proposals have come forward, including applying a surtax to individuals earning in excess of $10M.
In response to Musk’s tweets, Tesla shares prices sank dramatically at the start of the week.