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PP also failed to disclose that their argument on Musk during 2018 was while Tesla and Musk nearly went bankrupt trying to scale the M3. Not Teslas current stat
by InTheArena 5y ago
PP also failed to disclose that their argument on Musk during 2018 was while Tesla and Musk nearly went bankrupt trying to scale the M3. Not Teslas current state which is dramatically more valuable given that Tesla scaled for the M3 and MY).
- whakim 5y agoThat may well be true, but even if Tesla had gone bankrupt in 2018, Elon Musk would still have dramatically more money than you or me. If anything, this highlights how the uber-wealthy are able to make riskier (and, on average, more profitable) investments than you or I in part because the tax system has their back. (To be clear, I wish the article had actually explained all this instead of not mentioning it.)
- MomoXenosaga 5y agoYes the rich of today are almost completely sheltered from any risk. At least the royalty and nobility in the past had to fight in wars.
- whakim 5y agoThey often avoided having to fight in wars too ;) On a more serious note, in the past nobility and clergy were often exempt from various taxes (e.g. the taille, the main tax in Ancien Regime France) because of the other "value" they were bringing to society - an argument not dissimilar from those we hear today against various kinds of wealth/capital gains taxes!