Another day, and another opinion piece on Elon Musk, in what looks like an attention-grabbing headline. Paul Krugman, writing for the New York Times:
Billionaires, you see, tend to be surrounded by people who tell them how wonderful they are and would never, ever suggest that they’re making fools of themselves.
But don’t you dare make fun of Musk. Billionaires’ money gives them a lot of political clout — enough to block Democratic plans to pay for much-needed social spending with a tax that would have affected only a few hundred people in a nation of more than 300 million. Who knows what they might do if they think people are snickering at them?
[…]
What I suspect, although I can’t prove it, is that what really drives someone like Musk is an insecure ego. He wants the world to acknowledge his unequaled greatness; taxing him like a “$400,000-a-year working Wall Street stiff” (my favorite line from the movie “Wall Street”) would suggest that he isn’t a unique treasure, that maybe he indeed doesn’t deserve everything he has.
Ouch.
Why do people with more money than anyone can use insist on keeping it all? Read the latest from @PaulKrugman. https://t.co/XfdaOV7d7n
— New York Times Opinion (@nytopinion) November 2, 2021
Tesla and SpaceX CEO Elon Musk has a total net worth of $326 billion as of November 2, 2021, according to the Bloomberg Billionaires Index, led by the recent astronomic rally of Tesla’s stock price.
Last week, Musk pushed back on Washington Post reporter Christian Davenport, in his article about the Democrat plan to tax wealthy Americans. Musk has said he wants to spend his wealth on sending humanity to Mars.
“According to their own estimates, this tax only covers ~10% of the $3.5 trillion spending bill,” replied Musk. “Where will the other 90% come from? The answer is you.”
Musk went on to explain, “US national debt is ~$28,900 billion or ~$229k per taxpayer. Even taxing all “billionaires” at 100% would only make a small dent in that number, so obviously the rest must come from the general public. This is basic math.”
According to their own estimates, this tax only covers ~10% of the $3.5 trillion spending bill.
Where will the other 90% come from?
The answer is you.
— Elon Musk (@elonmusk) October 27, 2021
“Spending is the real problem,” said Musk. “US Federal Debt/GDP was 56% in 2000, now it is 126% & climbing fast,” said Musk on October 27, 2021.
US Federal Debt/GDP was 56% in 2000, now it is 126% & climbing fast
— Elon Musk (@elonmusk) October 27, 2021
