Elon Musk says 'government is inherently not a good steward of capital' even though his companies

[Yo_Mama_Been_Loggin]

thrived from government subsidies

Elon Musk — the world's richest person and TIME's 2021 person of the year — is biting the hand that feeds him.

With a net worth of $297 billion, Musk is a vocal opponent of increased taxes on the rich, including government involvement in all of his financial assets. He responded to Senate Finance Chair Ron Wyden's "billionaire's tax" proposal — a tax on wealthy people's assets — with a vulgar response to Wdyen's appearance on Twitter. He's remained firm in his stance that the government should stay out of his wealth.

"They're basically saying they want control of the assets," Musk said in a recent interview with TIME. "This does not result in, actually, the good of the people. You want those who are managing capital to be good stewards of capital. And I think the government is inherently not a good steward of capital."

However, government subsidies are largely to thank for the mountains of money Musk holds today. As the founder of electric vehicle company Tesla, the Wall Street Journal reported that Musk received a $465 million loan from the Energy Department in 2010 that was paid back in 2013. The government's $7,500 tax credit has also made purchasing Tesla vehicles cheaper for consumers, although that credit phased out for the company last year.

https://www.yahoo.com/news/elon-musk-rips-political-class-165418450.html

[Beastly Boy]

1. Hmmm... government is inherently not a good stewart of Musk's billions.

Good to hear! I hope he is right.

[Alexander Of Assyria]

2. Government isn't supposed to be a steward of capital, is the fatal logical flaw.

[Wounded Bear]

3. Sounds like an indirect reference to socialism...