{"id":8641,"date":"2021-10-28T13:32:25","date_gmt":"2021-10-28T13:32:25","guid":{"rendered":"http:\/\/TheNextWeb=1371362"},"modified":"2021-10-28T13:32:25","modified_gmt":"2021-10-28T13:32:25","slug":"an-analysis-of-what-would-happen-if-elons-proposed-tax-dollars-were-spent-on-public-transport","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=8641","title":{"rendered":"An analysis of what would happen if Elon\u2019s proposed tax dollars were spent on public transport\u2019"},"content":{"rendered":"\n

It must be <\/span>hard <\/span><\/em>being Elon Musk. Yep, everyone\u2019s favourite Space Karen is crying into his <\/span>Giga bier<\/span><\/a> and fiddling with his flame thrower in angst. He\u2019s aimed his ire at a proposal before the US Senate to tax Musk and his wealthiest friends<\/a>. <\/span><\/p>\n

Specifically, these billionaires would fall subject to the 23.8% capital gains tax on the increased value of unsold assets like stocks and bonds.<\/span><\/p>\n

Elon has plenty of money<\/h2>\n

Let\u2019s be clear; the man is hardly buying no-name brand baby food for X \u00c6 A-12. His net worth rose by a tidy <\/span>$36.2 billion<\/span><\/a> alone on Monday in response to a surge in Tesla stock. <\/span><\/p>\n

He <\/span>reportedly<\/span><\/a> earns $610.8 million per week \u2014 that\u2019s $152.7 million per day, $6.3 million per hour, or $106,000 per minute. <\/span><\/p>\n

But let\u2019s not forget that as we pay our taxes each year (and he pays none), we\u2019ve effectively been subsiding not only Elon Musk\u2019s lifestyle but also his vanity projects. While Elon pays capital gains tax and property taxes, he lives in Texas, which doesn\u2019t have a personal income tax.<\/span><\/p>\n

How do you feel about subsiding Musk\u2019s vanity projects with your tax? <\/span><\/h2>\n

A large chunk of Elon Musk companies get government funding. In 2015, <\/span>research by the LA Times<\/span><\/a> into Tesla, SolarCity, and SpaceX found they had an estimated $4.9 billion in government support in grants, loans, and contracts. <\/span><\/p>\n

Even dodgier, in 2020, Tesla received more than $400 million from <\/span>selling environmental credits to automakers<\/span><\/a> that fail to sell enough zero-emissions cars to meet governmental mandates. These credits were the only reason <\/span>Tesla<\/span><\/a> turned a profit in its early years. <\/span><\/p>\n

And let\u2019s not forget the amount of cash awarded to Musk companies to send the rich and privileged to Mars. Look, it\u2019s not <\/span>all <\/span><\/em>bad, for example., <\/span>SpaceX won $900 million from the US government<\/a> to extend broadband access to rural America. Th\u200b\u200bis is a <\/span>good<\/span><\/em> investment into satellites, especially if it translates to connectivity to remote areas in South America, Australia, and Africa. <\/span><\/p>\n

But, most of the cash thrown at Elon Musk\u2019s various enterprises is at the expense of investing in sustainable public transport.<\/p>\n

The problem is public transport, not flying people to space<\/span><\/h2>\n
\"Traffic
<\/i><\/a>Poor investment in US public tranport results in massive traffic jams<\/figcaption>