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I actually like Elon but I do not support anyone on this Earth getting to horde wealth in insanely large amounts. I don't blame Elon or any billionaires for th

I actually like Elon but I do not support anyone on this Earth getting to horde wealth in insanely large amounts. I don't blame Elon or any billionaires for the USA's current financial problems though I fully blame the government for not banning lobbying and other financial impropriety that has caused these issues and many more.

slowmovintarget 5y ago
Unrealized income is not real. He's not hording anything. The economy is not zero-sum. Elon getting paid (if he sells his stock or exercises his options) takes nothing from you.
- orwin 5y ago
  Debt issued with stock options as collateral should be taxed as much as income though, as this is basically income. And if you fall in the 37% tax bracket, tough luck. Most people don't understand how top management earn money, and focus on "income" from stock growth, but the reality is that Musk is not the only one gaming the system, and the system should be fair for everyone.
  - slowmovintarget 5y ago
    Debt is not income, and no, it should not be taxed as such. Do close the tax loopholes. Do fix the perverse incentives to sink money into stock speculation rather than reinvestment (goods, labor, new production). Fix the input, don't try to equalize the output with destructive measures.
mam4 5y ago
Elon doesn't own it as much as it controls it. And who else would own it anyway if it was not it? One of the main arguments against taxes are the fact the governement is incompetent in the ways to spend it compared to industrials who actually made money BECAUSE they were creating value. This may not be true always, but as a french person, in this case the american governement is pretty incompetent at doing stuff for the people such as universal healthcare, while elon musk is pretty efficient at creating industries. The incompetence of the governement and the lack of universal high quality education and healthcare is not a money problem at all... Maybe it should get itself in check before stealing efficient people's money. (not even considering that a lot of laypeople have made more money investing in Elon's industries stock than the governement will ever do for them)
aeternum 5y ago
The government controls significantly more wealth with questionable oversight. Being a senator is often a position for life, and even those that do get voted out still serve long terms. Most of the money that goes to the government is used on the military and spent very inefficiently. If Elon's companies spend money poorly or inefficiently they will very quickly lose market cap and his on-paper wealth will drop precipitously. Why are we more okay with government vs. a single individual who has shown exception ability to manage resources.. managing resources? Especially when most people agree with the goals: solving global warming and making our species multiplanetary

slowmovintarget 5y ago

Unrealized income is not real. He's not hording anything. The economy is not zero-sum. Elon getting paid (if he sells his stock or exercises his options) takes nothing from you.

orwin 5y ago
Debt issued with stock options as collateral should be taxed as much as income though, as this is basically income. And if you fall in the 37% tax bracket, tough luck. Most people don't understand how top management earn money, and focus on "income" from stock growth, but the reality is that Musk is not the only one gaming the system, and the system should be fair for everyone.
- slowmovintarget 5y ago
  Debt is not income, and no, it should not be taxed as such. Do close the tax loopholes. Do fix the perverse incentives to sink money into stock speculation rather than reinvestment (goods, labor, new production). Fix the input, don't try to equalize the output with destructive measures.

mam4 5y ago

Elon doesn't own it as much as it controls it. And who else would own it anyway if it was not it? One of the main arguments against taxes are the fact the governement is incompetent in the ways to spend it compared to industrials who actually made money BECAUSE they were creating value. This may not be true always, but as a french person, in this case the american governement is pretty incompetent at doing stuff for the people such as universal healthcare, while elon musk is pretty efficient at creating industries. The incompetence of the governement and the lack of universal high quality education and healthcare is not a money problem at all... Maybe it should get itself in check before stealing efficient people's money. (not even considering that a lot of laypeople have made more money investing in Elon's industries stock than the governement will ever do for them)

aeternum 5y ago

The government controls significantly more wealth with questionable oversight. Being a senator is often a position for life, and even those that do get voted out still serve long terms. Most of the money that goes to the government is used on the military and spent very inefficiently. If Elon's companies spend money poorly or inefficiently they will very quickly lose market cap and his on-paper wealth will drop precipitously. Why are we more okay with government vs. a single individual who has shown exception ability to manage resources.. managing resources? Especially when most people agree with the goals: solving global warming and making our species multiplanetary