Elon musk provides the most value to the world, change my mind

[MarkKol]

yes i know value is sort of subjective like, a banana is more valuable to a homeless person than it is to a millionaire but this is just a fun topic. nothing serious, you can try to discredit elon and say that he's not the biggest value generator but try to list YOUR favorite "value providers" because i'm obsessed to making a difference in the world.

[RendHeaven]

what do you mean by "value"

[Leo Gura]

Jeff Bezos provides more value cause he is richer.

No one denies Elon Musk provides lots of value. The issue is that the value he extracts is grossly disproportional.

Elon Musk only paid 3% of his wealth in taxes.

[Karmadhi]

The fact that the top 10 richest people in the world hold more wealth than like the poorest 40 percent of humanity is mind boggling and disgusting honestly. It would be nice if the UN did some sort of taxation for ultra rich people where all that money they have would be better distributed. Considering how corrupt the world is, i do not see it happening in the next few decades at least. Hopefully some day...

[herghly]

My favorite value provide is Rick Doblin. He's created the largest non profit psychedelic company and has been working hard for decades to push legalization. 

[IAmReallyImportant]

3 hours ago, Leo Gura said:

Jeff Bezos provides more value cause he is richer.

No one denies Elon Musk provides lots of value. The issue is that the value he extracts is grossly disproportional.

Elon Musk only paid 3% of his wealth in taxes.

If He wouldn't do that his companies wouldn't be able to grow in a pace that holds on with the greatest tech-companies. And then he couldnt provides the value he could that helps mankind to develop technologically. The competition would win the race.

In economy rational thinking is of course necessary as you dealing with different development stages.

It would be better to blame, that it is possible for these companies to set up complex tax saving structures that enables low tax expanses. And of course, lobbying is also involved.

Edited June 11, 2021 by IAmReallyImportant

[Space]

6 hours ago, Leo Gura said:

Jeff Bezos provides more value cause he is richer.

No one denies Elon Musk provides lots of value. The issue is that the value he extracts is grossly disproportional.

Elon Musk only paid 3% of his wealth in taxes.

Yea but I think most of his wealth sits in TSLA stock. Obviously if he started selling off his shares he'd have to dish out billions to the tax man. 

I guess then the question is, who is actually increasing the value of TSLA stock. Is it Elon or the thousands of TSLA employees.

[roar]

Mr. Musk is a straight-up conman.

 

[Leo Gura]

2 hours ago, Space said:

Yea but I think most of his wealth sits in TSLA stock

Obviously. But that's the whole problem. Billionaires are allowed to earn zero income and gain massive wealth through stocks without paying a cent. This needs to be better regulated.

It's ridiculous that an average person has to pay 25% of their yearly profits to the government but a billionaire gets away with 3%.

[Hello from Russia]

I think GOVERNMENTS create the most value in society. As they provide people the most with all kinds of stuff

[IAmReallyImportant]

2 hours ago, Space said:

Yea but I think most of his wealth sits in TSLA stock.

Of course he has to own a huge part of the stocks. Otherwise he would not own enough parts of the company

[IAmReallyImportant]

And he would never cash out the stocks anyway, as that would be far too big a loss.
And Tesla is a big part of his life purpose, so he would never sell the company either.
Therefore, the arguments regarding selfishness are absurd in this case.
Maybe he can do some small trades or trade with them and then buy his own stocks back, but he has to own a huge part of them.

Edited June 11, 2021 by IAmReallyImportant

[Leo Gura]

11 minutes ago, IAmReallyImportant said:

Therefore, the arguments regarding selfishness are absurd in this case.

Wealth Tax!

Enough with the income tax BS. Tax the wealth! Rich people don't have incomes.

[IAmReallyImportant]

1 hour ago, Leo Gura said:

Wealth Tax!

Enough with the income tax BS. Tax the wealth! Rich people don't have incomes.

Forgot that however, I refferred to the stocks which you cannot count as wealth in this case as it is probable never used. 

[JosephKnecht]

1 hour ago, Leo Gura said:

Wealth Tax!

How would you propose to tax Wealth?

Most of the wealth of Elon Musk is in the form of stocks in the companies he founded. His wealth is unrealized because it only becomes real if he sells his stocks. When he sells stocks, he already pays 25% Capital Gains tax. 

Let's suppose the government decided to tax his Wealth at 10% per annum. This means that Musk will be forced to sell 10% of his stocks every year. This kind of forced selling will sink the value of his stocks.

The government will get 10% of Musk's stock value every year. What will the government do with that money? Do you assume that the government is a better allocator of capital than Elon Musk? 

 

[Girzo]

@JosephKnecht Elon Musk is not the best example to use when talking about wealth tax because he is a weirdo who sold out all his properties etc. Other billionaires have plenty of assets that aren't stocks. But still, you can add many luxury taxes to tax wealth, even for a weirdo like Musk. Like an additional tax that you pay on top of the rent if the property you rent is worth over 10 million, let's say.

[MarkKol]

36 minutes ago, JosephKnecht said:

What will the government do with that money? Do you assume that the government is a better allocator of capital than Elon Musk? 

that's actually a brilliant way to put it ngl, its common sense that whoever spends their money the wisest, is the one who should have the $$$
now i'm not exactly sure who is the wisest spender of those dollars because elon did launch a car into space but at the same time United states puts 718.69 Trillion dollars into military which, i don't see much use in that, the age of military war is pretty much over.
 

34 minutes ago, Girzo said:

weirdo who sold out all his properties etc.

what's so weird about that? he probably doesn't need'em anymore 

weirdness isn't related to anything bad 

[MarkKol]

3 minutes ago, MarkKol said:

the age of military war is pretty much over.

It was at this moment that he knew he fucked up

[Shin]

3 hours ago, Leo Gura said:

Wealth Tax!

Enough with the income tax BS. Tax the wealth! Rich people don't have incomes.

That's how some countries do in Europe.

Guess what happens, they leave for an another country or they use sneaky tactics with banks to still pay a ridiculous amount of taxes.

[Joel3102]

Wealth tax is a logistical problem to implement. Usually the event of selling is a taxable event. Do you tax every person with a 401k (American folk speak) prior to even realising gains?