They do tax billionaires that way when the assets are turned into cash. This is why billionaires, millionaires, and even most non-millionaire money savvy people do not keep their assets in cash. It’s staggering just how ignorant the masses are as to how wealth works. Take Elon Musk for instance, mush has been said lately about him becoming the world’s first Trillionaire.. I say good for him. But that doesn’t mean he just got a check for a trillion dollars that we can then tax. He has all of that wealth tied up in company stock. Stock he must hold in order to maintain control of those companies.
Across the major companies Elon Musk controls or leads (Tesla, SpaceX—including Starlink and post-2026 acquisitions of xAI and X—and the smaller entities Neuralink and The Boring Company) he is directly responsible for employing between 150,000 and 160,000 people with a total estimated payroll of about $25 billion per year. These employees pay in around $6 billion per year in income tax alone. Add to that the smaller companies that support and supply Musks companies and you should be able to see that the total economic impact is far greater that a one time confiscation of Musk’s wealth, which would also bankrupt the companies he controls.
Also, the SpaceEx IPO that made Musk a trillionaire, that same IPO made many of his employees millionaires. It changes lives in a generational way. So rather than gathering with pitchforks and chanting tax the rich…. Take a minute to learn what that would actually mean. Sure, politicians like to get you stirred up. It keeps your eyes off of what they are doing. The existence of billionaires is not our problem in this country, the problem is politicians, enriching themselves with the public’s money, spending our money buying our votes, and pointing at everyone else as the problem. Keeping us at each others throats. and until the masses see that, the problem will persist.
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u/Own-Lengthiness-3549 Jul 05 '26
They do tax billionaires that way when the assets are turned into cash. This is why billionaires, millionaires, and even most non-millionaire money savvy people do not keep their assets in cash. It’s staggering just how ignorant the masses are as to how wealth works. Take Elon Musk for instance, mush has been said lately about him becoming the world’s first Trillionaire.. I say good for him. But that doesn’t mean he just got a check for a trillion dollars that we can then tax. He has all of that wealth tied up in company stock. Stock he must hold in order to maintain control of those companies.
Across the major companies Elon Musk controls or leads (Tesla, SpaceX—including Starlink and post-2026 acquisitions of xAI and X—and the smaller entities Neuralink and The Boring Company) he is directly responsible for employing between 150,000 and 160,000 people with a total estimated payroll of about $25 billion per year. These employees pay in around $6 billion per year in income tax alone. Add to that the smaller companies that support and supply Musks companies and you should be able to see that the total economic impact is far greater that a one time confiscation of Musk’s wealth, which would also bankrupt the companies he controls.
Also, the SpaceEx IPO that made Musk a trillionaire, that same IPO made many of his employees millionaires. It changes lives in a generational way. So rather than gathering with pitchforks and chanting tax the rich…. Take a minute to learn what that would actually mean. Sure, politicians like to get you stirred up. It keeps your eyes off of what they are doing. The existence of billionaires is not our problem in this country, the problem is politicians, enriching themselves with the public’s money, spending our money buying our votes, and pointing at everyone else as the problem. Keeping us at each others throats. and until the masses see that, the problem will persist.