Huh.
I see you've never taken an economics class.
Tell that to the thousands of people he fired when he showed up at Twitter.
Tesla employs 28 times more people than Twitter lost. Paypal employs 5 times more people than Twitter lost. And SpaceX and OpenAI combined employ over 3 times more. You should be applauding him if you really gave a damn about people working. But your class envy overrides any compassion you have for your fellow man.
And to answer your question, how do billionaires make their money? Seed money, connections and luck. That's it.
I see you've never taken a business class either.
There are thousands of people in this country with better ideas than them but don't have a daddy with an apartheid-era emerald mine.
lol. The emerald mine. I see you tossed in the 'apartheid' word implying that the mine was in South Africa. It wasn't. Nor did the pre-teen boy Elon derive any benefit from it. But hey, if you can come up with any evidence that Elon got "seed money" from his daddy, then please post it. But you'll likely end up blaming Musk's takeover of Twitter for your inability to back up your fictitious claim. But thanks for showing your hand by regurgitating Robert Reich lies. Did you know him while working for the Clinton Administration?
What is wealth?
See my first response above.
And guess who's not losing wealth? The billionaires and hedge fund brokers who have access to the resources to gobble up housing for rentals.
Billionaires lose wealth all the time. Look how many billions Elon lost buying Twitter. Not sure how much rental housing he owns. But that shouldn't stop you from taking on a second job and saving up for a house. It is not any billionaire's fault that you lack the drive to purchase a house. Stop blaming others for your own choices and take some accountability for yourself. Stop lying to yourself and making false excuses. Let that class envy go.
Our government's wealth management has created one of the most perverse systems imaginable, one that claims to be "progressive" but punishes those who are honestly trying to work their way up in the world, while doing everything in its power to ensure those already at the top stay there.
Give me one example where government creates wealth. Just one.
We tax sweat of the brow, but not unrealized gains. We tax income, but not wealth. When we do tax wealth, it's usually in the form of the roof over a person's head by way of property tax. Our tax code rewards the lazy and punishes the industrious.
So you're going all-in on the class envy schtick. Someone else has wealth (because they took risks and put in 100-hr work weeks for years (like Musk) while you were too afraid to take those same risks or unwilling to put in those same hours. So for some obscene reason, you feel entitled to some of their wealth.
You are half-right in that the U.S. dollar is not an accurate measure of wealth, but that is the standard by which we measure it. And right now, pretty much all of our securities are in a huge bubble
What "securities" are you referring to?
Your idea would pop that bubble. There's no way you're going to grow or create wealth in that kind of situation.
Your ignorance of economics is staggering. Elon Musk has had no problem growing and creating wealth. Your problem is that you think it's the government that creates wealth. It doesn't. Government only consumes it. And by printing up money, it is consuming yours by stealing value from every dollar you earn. And it is doing so without having to tax you. Yet you cheer it on? You are working against your own self-interest here, all for satisfying some emotional need to stick it to those billionaires (which you aren't even doing).
And if history is any indication, without force to keep the already wealthy in line, those "wealth creators" as you put it will just send their resources overseas where it's cheaper.
That's really beautiful and all, but it DOESN'T HAVE A DAMN THING TO DO WITH ANYTHING I HAVE SAID OR PROPOSED. You are completely clueless. You have zero understanding of what you just stated. Sure, it may have sounded good to you. You may even have gotten some sort of emotional rise when you typed it. But it has no connection to deficit spending and monetary expansion. None.
The vast majority of our overspending goes to transfer payments, which go right to the elderly, who promptly return it back to those rich companies in exchange for staying alive.
Spoken like a true Democrat pouring gasoline onto the class-envy fire. Are you aware that 30% of Social Security payments go to people below retirement age? So your "majority of overspending" claim is pure unadulterated bullshit. You are wallowing now. Just parroting whatever phrases and clauses you pulled from DailyKos or DU posts thinking it made you look smart. It doesn't.
Think of it this way. Let's say there's a table full of groceries. You have $100. You are the only buyer. When you show up to buy groceries, you make an exchange. All the groceries for all the money. You pay your $100. You get all the groceries. This is how a balanced budget works.
But government comes along, prints up $40 out of thin air, and gives those dollars to someone else. Next month when you show up at the grocery store, you bring your $100 expecting to buy all the groceries. Except this time, someone else is there with $40 more. The grocer again takes all the money ($140) for all the groceries. Except you end up with only 71% of those groceries while the other guy takes 29%. So you now have to come up with another $40 to end up with the same amount.
THIS is why you can't afford a house. Yet instead of being pissed at government for doing this to you, all you want to do is have a class-envy pity party blaming Elon Musk, and then advocate more of the same from Big Brother. You are a fool.
