I’m very much afraid, these people think Musk has $1,000,000,000,000 sitting in a bank account. Genuinely.
...are you completely retarded?!
Pray tell, what EXACTLY do you think happens when you force a 3% ANNUAL wealth tax?
It's not sitting in a fucking bank account you imbecile, it's EQUITY IN A COMPANY.
To pay 3% in real money he has to dump tens of billions in shares EVERY YEAAR, which drops the price of the stock for EVERYONE.
Tesla sits in the S&P 500. Which means it sits in your index fund. Your 401(k). The teacher's pension. The firefighter's retirement. The savings of every working person who never made a dime off Elon Musk and never asked to.
And it's worse, because the tax eats itself EVERY YEAR!!!
Every share he dumps to pay that tax, he owes capital gains tax on. So he sells more to cover that. Then more next year, off a base you just shrank.
You don't collect a clean $33 billion. You collect less and less while doing more and MORE damage on the way down.
Wealth taxes are the single stupidest idea ever.