'Stupid' and 'insane': Some billionaires vent over tax plan

Elon Musk isn’t happy

Elon Musk isn't happy.

With a personal fortune that is flirting with $300 billion, the Tesla CEO — the richest person on earth — has been attacking a Democratic proposal to tax the assets of billionaires like him.

The idea behind the Democratic plan is to use revenue from a billionaires tax to help pay for a domestic policy package being negotiated in Congress that would, among other things, help combat climate change, provide universal prekindergarten and expand health care programs.

Musk, who recently blew past Amazon founder Jeff Bezos as the world No. 1 in wealth thanks to Tesla's soaring share price, would be liable for perhaps a $50 billion tax hit under the Democratic proposal.