11–20 of 25 posts
It's shows just how pointless it is to have this much money and only bad things come from it. Tax anything above 1 billion at 100%. If that isn't realized gains do not allow them to borrow against it. No loop holes. The US and others managed to set a global minimum coorperate tax so this is doable.
Do you really think he has that much liquid cash, and he physically lost $200 billion?
Another example of the error of conflating the purported value of some pieces of paper with real money. It's not like Elon had $200B sitting in a safe and one day it was all gone. That would be a "real loss". Our capitalist system is more like a visiting a casino. No matter how many chips you win or lose at the tables. The only result that matters is how much money you walk out with.
It’s become extremely difficult to find an asset that’s both liquid and preserves value nowadays. Is cash the money-est money there is? I’m not so sure.
It's shows just how pointless it is to have this much money and only bad things come from it. Tax anything above 1 billion at 100%. If that isn't realized gains do not allow them to borrow against it. No loop holes. The US and others managed to set a global minimum coorperate tax so this is doable.
Do you really think he has that much liquid cash, and he physically lost $200 billion?
Another example of the error of conflating the purported value of some pieces of paper with real money. It's not like Elon had $200B sitting in a safe and one day it was all gone. That would be a "real loss". Our capitalist system is more like a visiting a casino. No matter how many chips you win or lose at the tables. The only result that matters is how much money you walk out with.
While I agree that plenty of people (deliberately?) misunderstand how net worth is calculated, what would be the equivalent of “walking out” in this scenario? Transferring your assets to cash that’s going to be devalued by the government issuing more currency? It’s become extremely difficult to find an asset that’s both liquid and preserves value nowadays. Is cash the money-est money there is? I’m not so sure.
Another example of the error of conflating the purported value of some pieces of paper with real money. It's not like Elon had $200B sitting in a safe and one day it was all gone. That would be a "real loss". Our capitalist system is more like a visiting a casino. No matter how many chips you win or lose at the tables. The only result that matters is how much money you walk out with.
While I agree that plenty of people (deliberately?) misunderstand how net worth is calculated, what would be the equivalent of “walking out” in this scenario? Transferring your assets to cash that’s going to be devalued by the government issuing more currency? It’s become extremely difficult to find an asset that’s both liquid and preserves value nowadays. Is cash the money-est money there is? I’m not so sure.
Earlier quoted context omitted.
While I agree that plenty of people (deliberately?) misunderstand how net worth is calculated, what would be the equivalent of “walking out” in this scenario? Transferring your assets to cash that’s going to be devalued by the government issuing more currency? It’s become extremely difficult to find an asset that’s both liquid and preserves value nowadays. Is cash the money-est money there is? I’m not so sure.
Elon M speaks of things infinite money can't buy. LEO proliferated communication satellites was pretty much not available before SpaceX levelled up the game. ULA is a money magnet on the books.
Earlier quoted context omitted.
While I agree that plenty of people (deliberately?) misunderstand how net worth is calculated, what would be the equivalent of “walking out” in this scenario? Transferring your assets to cash that’s going to be devalued by the government issuing more currency? It’s become extremely difficult to find an asset that’s both liquid and preserves value nowadays. Is cash the money-est money there is? I’m not so sure.
Perhaps, exchanging cash for some real utility.
Who knew that the right wing version of "freedom" is really about using money to promote more bias?
Who knew that blatant right wing hypocrisy was bad for business?