⚡️𝚃𝙷𝙸𝙽𝙺 𝙰𝙱𝙾𝚄𝚃 𝙸𝚃⚡️

This is false. At most subsidies have added up to $10B for all of his companies, most of which went to consumers and not Tesla directly. Contracts are not subsidies as the government is receiving a service that they would not otherwise be able to get or would have to procure from another company, often for a much higher price. Since Elon has paid more than $12 B in taxes, he has pretty much paid more to the government than his companies have received in subsidies.

Just read Musk and his companies have received 38 billion dollars in government subsidies over the years. I would say Musk is stealing money from you.

The whole ""Buy, Borrow, and Die" thing is way overblown. Elon has no margin loans as of the most recent reports. Most billionaires do not. It is on the order of 2% that may have large loans but never then it does not make financial sense. Pay 2 to 4% interest for the rest of your life to avoid taxes of 20 to 38%? And if one has to sell the shares for some reason, they would then have to pay tax on top of all the interest they have paid to date.

@BasedMikeLee Agreed but you need to do something about "Buy, Borrow, and Die" tax avoidance. He needs to pay tax on every dollar not reinvested in the companies. Bezos is living large on superyachts and paying no income tax due to "Buy, Borrow and Die".

Progressives: Remember that Elon’s wealth belongs to him Yes, he has a lot of money That doesn’t make it yours—or the government’s

@RepMikeQuigley Contracts are not subsidies. When SpaceX provides services that others can not or at significantly lower cost than others, then the government is primarily receiving a service.

Senator, Elon Musk gets $8 million in taxpayer money every day.

@LilBitchBoi945 @Handre 20k people lost their jobs. pepperdine.edu/press-room/new… nber.org/system/files/w…

@Handre No study has found significant job loss from the minimum wage hike, the highest number I could find was a 3.2% reduction.

McDonald's announced they're replacing cashiers with kiosks in California just after the $20 minimum wage kicked in. Shocking to absolutely no one who understands basic economics. When you artificially price labor above its market value, employers find substitutes. Machines, automation, or they simply eliminate positions entirely. The teenagers who desperately need that first job experience? Gone. The single mother trying to re-enter the workforce after years away? Priced out by someone with more skills. You've just created a legal barrier that prevents the least skilled workers from competing on the one thing they had going for them: willingness to work for less while they build experience. Politicians pat themselves on the back for "helping workers" while unemployment among young minorities hits double digits. The workers who keep their jobs benefit (temporarily), but the invisible victims, those who never get hired in the first place, don't make headlines. Economics doesn't care about your good intentions.

@AMLabEcon grok.com/share/bGVnYWN5…

I often get asked by parents, what does my kid need to achieve to earn a place at UC Berkeley? The answer is, I don’t know. There used to be an implicit social contract that if a California resident excels in school and is a very high achiever, there would be a predictable path to one of the leading campuses of the University of California system. Until the early-2000s this was explicit in that between 50-75% of incoming classes had to be admitted on the basis of academic criteria alone (GPA, SATs, APs). A high school student basically knew what they had to hit to get admitted to Cal. UCs no longer considers SAT/ACT scores, and letters of recommendation are generally not part of the application. The remaining academic record is heavily based on grades, course-taking, "school context", supplemented by personal insight questions (in the AI era!) and activities. But in an era of substantial grade inflation, transcripts have become a noisy signal. True academic achievement matters much less than it used to. The result is, while not literally random, highly unpredictable and illegible admissions. For California families, it is no longer clear what level of achievement is enough for their kids, or even what kind of achievement the system is trying to reward. I suspect that is not what most families in California want.

@AMLabEcon It depends on your race and what school you go to unfortunately. thefp.com/p/bring-back-t…

@r_ric000 @garrytan Everyone can access free SAT coaching at Khan Academy Official Digital SAT Prep

Standardized tests and DEI can not coexist. One of the arguments by the left wing for removing SAT was that some families have more access to SAT training than others. This claim is partially true. With the arrival of AI, this disparity can be removed. You basically can learn whatever you want for free if you work hard and are capable. No more excuses!

Looks like University of California leadership is going to water down the admissions requirements right at the moment when they should instead be bringing back the SATs just like all the Ivies did

@EdMarkey Contracts are not subsidies. Elon's companies have received about $10 billion in actual subsidies. Elon has paid over $11 billion in taxes in 2021 alone. Therefore he has paid more in taxes than his companies have received in subsidies. Sounds like you owe him money.

Hate to break it to you, Mike. But it is our money. #TaxTheRich

It's not true. Billionaires do not pay a less effective tax rate than teachers. Also to borrow money through their death they still have to pay interest on the loan which will amount to way more than the tax. It doesn't make sense financially and there is a risk that they have to sell the asset or shares at some point in which case they still have to pay the tax on top of all the interest lost.

This is a real loop hole in the system. I’m all for people getting as rich as possible, but this is how Billionaires pay the lower percentage of income tax than a teacher. Of course the donor class will never let this end, and honestly if we closed this loop hole they’d find another like the wealthy always have and always will.

He can borrow against it at low interest rates, giving him income that isn’t taxable.

Recent Tesla disclosure shows that Elon has zero margin loans against Tesla stock. The whole borrow, buy, die thing is way overblown. Less than 2% of billionaires have margin loans. Elon reportedly does not have any. Even if he did with the low interest rate he might get of 2%, he would still pay more in interest than he would in taxes making the whole deal pointless. He is 56 years old. To keep the loan until death, say 90 years old, he would pay 68% in loan interest vs 20 to 35% in taxes. If he is forced to pay it back earlier he would pay tax and the fees for however long he carried the loan. That's a lose lose.

@wholemars Musk's next major tax event will be in April 2029. He will owe more than $50 B on the vesting of his 304 million restricted Tesla shares from his 2018 pay package.

5% of $1 trillion is $50 billion. That is $146 per American. And let’s be real, you would waste that money on the dumbest shit we’ve ever heard of. What difference is $50 billion going to make when you’re already collecting $5 trillion in revenue and not providing free college? Now, how much wealth creation would Americans lose out on from forcing Elon Musk to sell 5% of SpaceX per year? Billions? Trillions? It is a massive net negative. Looters like Ro want to destroy this country. We can’t let him stay in office.

@GBNEWS @DrHoenderkamp It's a good thing then that he isn't driven by greed and has been working to improve life for everyone even if some disagree with his politics. Also a good thing that he has pledged to donate all his wealth before he dies.

'Money in itself isn't the problem. It is the power and the influence that then comes with it.' @DrHoenderkamp on the power and influence of Elon Musk and Bill Gates.

@BasilTheGreat My god, now he is blind and deaf with severe PTSD. I can't imagine how he must feel.

🚨NEWS: It has been reported that Stephen Ogilvie, the man attacked by a migrant in Belfast has sadly lost sight in both eyes

@KathyMylet65084 @TonyLaneNV @truth_teller58 Elon paid 53% on his income in taxes in 2021. How is that not his fair share?

@TonyLaneNV @truth_teller58 So all that bs means he shouldn’t pay his fair share of income tax? You are a moron

On the same day Elon Musk became the first trillionaire in human history New York City mayoral candidate Zohran Mamdani announced he wants to tax billionaires like Musk to fund his agenda. Here is what that argument misses entirely. Elon Musk did not inherit a trillion dollars. He built Zip2 from scratch. He reinvested into PayPal. He bet everything on Tesla and SpaceX when both were on the verge of collapse. He slept on factory floors. He nearly went bankrupt in 2008. He kept building when the world laughed at him. That is not luck. That is capitalism working exactly as intended. The idea that the moment someone succeeds the government’s first instinct should be to take more of what they earned is exactly why entrepreneurs leave high tax states and cities in the first place. New York is already losing residents faster than almost any state in America. Threatening to tax the people who create jobs and drive innovation is not a solution. It is the problem. Congratulations to Elon Musk. The first trillionaire. Built not given.

Net worth is not the same as money in a bank account. 5% would be about $60 B but Elon would have to sell about 10% of his shares to get the cash to pay 5% in taxes and then would pay the other 5% as income taxe on the shares sold. In any case in you will get your 5% in 2029. Musk's next major tax event will be in April 2029. He will owe more than $50 B on the vesting of his 304 million restricted Tesla shares from his 2018 pay package.

A 5% tax on Elon’s net worth would fund every community health center in America for the next 26 years. I’ll say it again. Tax the rich.

@Maya2400163157 @GuyTalksFinance He is the best capital allocator and has the best potential to create life changing technologies.

@GuyTalksFinance But- can you say more about why he “deserves” this? What specifically makes him worthy of having THAT much more money than the rest of the world?

My coworker thinks it’s wrong that Elon Musk became a trillionaire. He says “why does one person need all of that wealth while everyone else is poor” The guy building autonomous vehicles, robots, space travel and employs thousands of people deserves to be a trillionaire.

If someone had a trillion dollars just sitting in a bank account, yes that would be an eye bleeding ridiculous amount of money that they would never be able to use. It would be unconscionable in some sense. Elon does not have a trillion dollars though. In 2002 when Paypal was sold to ebay, he made $180 million after paying about 35% in taxes on the income. Those getting the payout now could try to do what Elon did. He invested $100 million to start SpaceX and $70 million into Tesla. Now 24 years later after insurmountable odds those companies are theoretically worth trillions and his share of those companies are worth over a trillion. But if he tried to sell all his shares, the value of them would collapse along with everyone's pension and retirement fund as the market can not absorb it and he would have to pay a tremendous amount of taxes and then he would no longer have any control over Tesla or SpaceX. His percent control hasn't changed much over the years, it's just theoretically worth more on paper. He probably has millions in his bank account, not billions. And he uses the capital he has to build new companies or innovations like Neuralink or xAI. All of these benefit us. All of his companies are benefitting us. We will be able to have cheap robotaxis providing transport everywhere, making commutes easier, cheaper and safer while reducing carbon emissions. Lives will be saved from reduced accidents and pollution. Starlink is already on many planes transforming our flying experience and productivity while connecting people in remote areas that traditionally had little access, equalizing opportunities across the world. His Neuralink is helping dozens of paralyzed people to be able to interact with and control a computer or prosthetic. His Optimus robots will transform factories, homes and businesses. XAI will make work faster and easier, solve problems, develop applications. His investments have all provided tremendous benefit to us and the future benefit is a magnitude greater.

@thinkabouditt @mallen20243 @McFaul That's fair. I assumed. Honestly, 25-250 million dollars is the sweet spot where folks can do anything they want without the money becoming a burden And 250 million is not mind bogglingly stupidly large I don't think folks get how much larger a trillion is

There is no way a single person can spend a billion dollars, let alone a trillion.

@RWToronto @mallen20243 @McFaul 400 of them made more than 100 million. Over a million doesn't mean a million each.

@mallen20243 @McFaul 4,000 people getting a million dollars is less than half of a percent of a trillion dollars A trillion dollars is equal to a million people getting a million dollars

There is absolutely zero evidence of hundreds of thousands of people dying due to cuts in USAID. Please show the evidence. These were projections from modeling based on many assumptions by interest groups fighting against the defunding. 90% of the funds went to lining pockets and implementing political change in other countries. Why don't you talk about the 10s of thousands of lives saved due to reduced pollution and CO2 from Tesla's products or the thousands of lives saved from his technologies like autopilot and FSD, or due to Starlink?

Instead of discussing how Elon Musk is now the world's first trillionaire, we should talk about how he killed hundreds of thousands of people through his dismantling of food and medical aid to poor countries currentaffairs.org/news/how-elon-…

@WesternLensman There is zero evidence he is a white supremacist. He is just anti-woke, that's it. He believes in meritocracy and liberty.

MSNOW is pushing the "Elon is a white supremacist” stuff again. Just can’t help themselves.