Elon: “I can’t be taxed, I don’t have the money, but also I can buy Twitter”

20 comments

1. This is actually the level of understanding that these socialist types have.

2. Same as being taxed on a house yearly for the expected value it currently has… We should abolish property taxes.

3. Wait, you obviously have some gasoline in your car. Which means, you’re getting profits each time gas price increases.

   /s

4. Never found him to be funny. Why do they all veer off into politics they do realize that they potentially risk losing half their audience

5. Wouldn’t just having to pay taxes on earnings used to pay for the shares at the buy price and then pay again based on gains or losses at time of sale fix this?

   So if your company gives you $50,000 thousand in shares you pay taxes on 50k of income, and then if you sell later for say 80k then you would pay taxes on the gains for the 30k difference.

6. The only money that materializes is loaned on a spreadsheet, yet it begins accruing interest. That money is paid out for work and services(?) at a taxed rate, and it’s fundamentally less valuable than it was before it was loaned. The loans will be paid back with interest, so the money that entered the economy through loans at a devalued rate then gets extracted at an increased rate to pay interest as well as taxes and fees on transactions.

   Musk never stakes actual money, the investors stake tokens, the workers and lawyers split the play money before ultimately funneling it back to private equity.

   Something like that?

7. Thats because stocks have become a less depreciating asset than the USD on timescales longer than a year. You guys are getting triple taxed- Interest Rates, Income Tax, and Inflation. Don’t keep money in USD haha.

8. Proceeds to post someone else talking. Since there is no proof Elon said what’s in the title. What a fud fake liar.

9. Noah explaining to everyone that he doesn’t understand finance concepts in joke form

10. Billionaires are all broke. That’s how they evade taxes. They use their connections to banks and borrow at or below interest rates. Then they live off the loans, shuffling the money around until they die.

    It’s a privilege us peons, whose taxes pay for civilization, don’t get. Meanwhile more and more is sucked out of the economy every year.

11. I think I just lost a couple of brain cells watching this

12. It’s all about the fiat…

13. It’s like taking a heloc loan out using your house as collateral.

14. So he’s taking out loans to buy twitter, meaning has monthly payments, how does he pay those monthly payments if he has no or low income? Tesla stock doesn’t pay dividends.

15. Lend. Lend me the money. Borrow me the money is a very common Afrikaans to English grammar translation mistake. Quite surprised he would still do this though.

16. Does everyone here really want the economy to be like a real life game of monopoly? You know, that game where there’s only one winner and everyone else goes bankrupt and can no longer feed or house themselves? That is why these “unfair” property taxes exist; to keep the game that is our economy going indefinitely by keeping currency in circulation. Otherwise the system goes stagnant, falls apart and becomes irrelevant.

17. Soo…Elon has never said the quote. And this is a daily show clip about how we don’t tax stock, and loans on it.

18. Elon Musk pays no taxes at all but President Biden can’t manage to find a couple bucks to forgive student loans?

    No wonder America is failing.

19. Its like buying an ice cream stand with a loan using your house as collateral, yes, that is a thing

    Not sure what the argument here is. Should unrealized gain be taxed? Most Americans have unrealized gains in indexes. To be taxed on collateral? That makes… No sense

20. This is the stupid, moron shit kinda post I have grown to love from this sub. Thank you OP!