Adam Wyden, a multimillionaire hedge fund manager, called out his father, Democratic Sen. Ron Wyden of Oregon, and his “cronies” on Capitol Hill on Sunday saying they hate the “American Dream.”
“Why does he hate us / the American dream so much?!?!?!?!” Adam Wyden tweeted on Sunday. “Reality is: most legislators have never built anything… so I guess it’s easier to mindlessly and haphazardly try and tear stuff down.”
“Thankfully, I think I can compound faster than my dad and his cronies can confiscate it…” Wyden said.
The younger Wyden moved from New York to Florida last year to escape his previous home’s high tax rates, Forbes reported. And he hasn’t been shy about criticizing President Joe Biden or his father’s tax policies.
Adam Wyden’s tweet comes after his father, Ron Wyden, tweeted a criticism of multimillionaire Elon Musk asking Twitter followers via a poll over the weekend whether he should sell 10% of his Telsa stock.
Musk noted that, “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.”
The Twitter poll showed 57% favored him selling stock and thus having to pay taxes, and Musk vowed to abide by the results of the poll.
“Whether or not the world’s wealthiest man pays any taxes at all shouldn’t depend on the results of a Twitter poll. It’s time for the Billionaires Income Tax,” Ron Wyden tweeted, prompting his son’s response and an even cruder one from Musk himself.
The Biden administration has pushed an “unrealized capital gains” tax for billionaires to fund his infrastructure plan. Such a tax would force payment on an increase in net worth, which is not currently taxed unless the money is cashed out.
Detractors have noted that the income tax was initially sold as only for the wealthy and now hits nearly all Americans.