The Democrats have recently proposed to tax billionaires many of whom pay almost zero or less than five percent taxes, due to various tax breaks and some loopholes in the laws of the nation as per a recent report by ProPublica. As the tax proposal could become a reality despite the lack of bipartisan support, one billionaire, Elon Musk, took to Twitter to show his displeasure on being expected to be taxed like most American are. Some billionaires have said that they are ready to be taxed, some have protested and others have kept quiet, as of now.
On Monday, Tesla CEO Elon Musk wrote on Twitter, “Eventually, they run out of other people’s money and they come for you.”
In another tweet Musk said that the private sector could be better at managing the reallocation of wealth rather than the government.
In a worst case fantasy scenario we muse about what would happen if the top two billionaires were in charge of reallocation of taxes collected from Americans who have worked hard to pay taxes which would now be disbursed by the private sector including these two.
In the recent past, Amazon’s Jeff Bezos spent a s**t load of money for less than a quarter hour joy ride to space and thanked Amazon employees for making it possible. When Bezos left for space many jokingly asked the government not to let him come back to earth. If huge amounts of taxpayer money is put in this billionaire’s hands, will he offer all those who criticize him a free joy ride to space, this time using tax payer’s money, instead of extending invitations to cronies and ticket holders?
Elon Musk recently reportedly said that the bulk of his fortune would be used in efforts to colonize Mars. His reported $300 billion wealth would most probably be insufficient to reach Mars. Will he reallocate taxpayers’ funds privately to shorten the time it would take humankind to reach Mars, so that he could reach Mars and died there, as is his wish, while mother earth struggles?