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Posted on 12/24/2025 4:07:07 AM PST by SmokingJoe
Lot of posts copying the likes of @BernieSanders @SenWarren and @AOC calling for more taxes on Billionaire @elonmusk, forgetting that in 2021 he paid a 53% rate of tax totaling $11b. They all repeat the claim that his company has received benefits of $38b from the US Government. Let's look at his REAL economic impact to the U.S. It's mind blowing. Musk’s ventures currently contribute $100–140B in annual GDP impact, or roughly 0.4% of total U.S. GDP. And growing faster – considerably faster – than the US economy, promising even greater contributions in the future.
That’s more annual contribution to US GDP than entire annual GDP of smaller U.S. states, like West Virginia (~$108 billion, 0.37%) or Hawaii (~$116 billion, 0.40%). And growing faster. On top of that NASA and US Department of War have cumulatively saved over $40 billion as a direct result of SpaceX delivering a reduction in the cost of delivery of launch and communication services over traditional vendors. SO much for Musk Companies having "received" $38b. In other words, had the U.S. not paid Musk companies $38b, then the US would have had to spend $78b with competitors (and possibly then not received a delivery of the goods ordered! Boeing, looking at you.) Not to mention that Starlink practically saved Ukraine from being overrun in the early days of the Russian invasion. Seems we are all, all Americans - and citizens of the world in fact - benefiting from the growth of Musk’s net worth. Here are the numbers:
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That is absolutely *INSANE* that one man’s business has a marked impact on the U.S. GDP.
HOORAY Elon!
The left’s inability to understand the difference between “income” and “wealth” is staggering. Especially among the lawmakers who literally write the tax laws.
(I understand the article is referencing his ‘income.’ The libs are always pointing to his wealth—which is mostly in the value of his ownership of these companies.)
If their minds are melting over his Tesla shares…just wait until SpaceX goes public next year.
They didn’t ‘forget’.
It’s more pandering to the stupid...
...and a distraction for others.
They won’t be taxing wealth, just income. the billionaires keep low incomes so they won’t be paying much in taxes.
Everything of theirs is owned by their businesses and they themselves don’t own much. That’s the con.
Musk is a national tresure. A great American. We are lucky to have him.
Whatever “millionaire” tax they force through Congress they will exempt themselves.
Had they taken an accounting class, they would know the difference between and income statement and a balance sheet. Aside from US history, economics and accounting g should be required high school classes. There would be fewer stupid people walking the streets.
Musk is very effective at running his business. The looters who want to pick his pockets are only good at running their mouths.
There is a real chance after SpaceX goes public next year that Elon Musk could become the world’s first Trillionaire.
I’ve read articles that the IPO for SpaceX will be the largest in US history with a projected value of 1.2 trillion, currently Elon Musk owns approximately 42-43 percent of SpaceX...putting the value of Elon’s shares of SpaceX at 450-500 billion.
The liberals will absolutely go insane if Elon becomes a Trillionaire, there will be calls to confiscate not just his income but his wealth as well.
$11b and that was out of his own pocket.
They always forget to add all the taxes paid by his employees... as their money came from him.
Commies will never be satisfied with whatever you pay on taxes until everyone is equally broke
Yesterday I believe, Space X launched it’s 161st rocket into orbit for the year 2025.
The fantastic team that Elon Musk has assembled at Space X has bested every private company and governmental space agency in the world. There is simply no equal to Space X on earth.
“Everything of theirs is owned by their businesses and they themselves don’t own much. That’s the con.”
That’s not “the con”. That’s the way the tax laws are written.
Don’t like it? Run for Congress and get the laws changed. Or start your own business and utilize the rules of the game.
@BernieSanders @SenWarren and @AOC should pay taxes on their grift.
It is the con. They advocate for high taxes on incomes, so you are highly taxed on your income. They won’t be highly taxed, but you will be highly taxed.
They don’t want others to become millionaires and billionaires.
This is not a statement of whether I agree or disagree with the tax laws. I do dislike billionaires, who won’t be paying much in taxes, advocation for you and I to pay high taxes so we never accumulate wealth for ourselves.
Communists don’t want private wealth, except their own.
Con? Seriously?
No mention of him saving our astronauts from death
The left if they ever get back into power and gets rid of the filibuster, will implement a wealth tax. That and other garbage will happen. Hopefully, they ever get power again. Republicans do nothing which in the long run is preferred.
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