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Elon Musk, the richest person in the world with a net worth of around $292 billion, said taxing billionaires would only make a “small dent" toward paying off the U.S. national debt, arguing that the focus should be on government spending. 

“Spending is the real problem," Musk said Wednesday in a tweet that also included a link to an online clock that estimates the country’s debt. Even if the super-wealthy were taxed at “100%," the government would need to turn to the “general public" in order to make for the short-fall, the Tesla Chief Executive said. 

“This is basic math," he said.

Musk’s comments came after Ways and Means Chair Richard Neal said there wasn’t support for a tax on billionaires tax to get through Congress.

This story has been published from a wire agency feed without modifications to the text.

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