“how much do you think is fair? Does 53% seem reasonable?” Elon Musk over Bernie Sanders Comment
Elon Musk is furious over Bernie sanders comment that extremely wealthy should pay their share to help the community. However, this has rubbed Elon Musk wrongly. He has been commenting on Bernie’s post since morning. He has written how much more should I dilute my company to 53%. Even fans are somewhat divided over it.
Here is a complete transcription of what has happened since morning :
Eon Musk wrote: Ok, how much do you think is fair? Does 53% seem reasonable?
Twitter User Wrote: What do you think of a tax structure where there’s only a sales tax? So that rich folks who buy a lot of stuff would get the largest tax burden, and low-income families who don’t buy much would pay the least This would punish extravagant purchases instead of capital-building
Elon Musk Wrote: Agreed, taxes are best applied to (especially extravagant) consumption, whereas capital allocation taxes reduce goods & services output, so actually bad for the people. Probable capital allocation skill of heirs is lower than original creator, so I am in favor of an estate tax.
Tesla Silicon Valley CLub Wrote: Yeah if you are told to sell your stocks just to pay taxes then you could lose majority share in Tesla right ?
Elon Musk Wrote: I had majority control for the first 5 years or so of Tesla, but car companies need lots of capital, so now I’m around 20% or so, despite putting in as much as I could along the way
Pranay Pathole Wrote: And since you give all Tesla employees shares, your ownership is automatically diluted
Elon Musk Wrote: Yes, that is the other major source of dilution. All employees receive stock after a year at Tesla and we now have over 100,000 employees worldwide.
And since you give all Tesla employees shares, your ownership is automatically diluted
— Pranay Pathole (@PPathole) November 15, 2021
There has always been a discussion that the wealthy should pay their share to help the poor. But taxing only the rich will not help. According to Elon Musk where that Tax money is going should also be checked at all times.