Summary
Elon Musk’s threats to fund primary challengers to Democrats in safe districts, following his role in nearly forcing a government shutdown, have reignited calls for campaign finance reform.
Musk, who spent $277 million backing Republicans, criticized a bipartisan spending bill and used his platform to sway GOP opposition, influencing legislative outcomes.
His intervention has sparked outrage among Democrats, with leaders like Bernie Sanders and Alexandria Ocasio-Cortez warning of rising oligarchy and calling for reforms to limit super PAC and dark money influence.
The episode highlights growing concerns over Musk’s political power and its impact on democracy.
I’d love to see Bernie’s idea of taxing anything over 999 million at 100% get implemented. I bet most Americans would actually be for this.
You can get by on 999 million.
And, when you get into the 999 million club, you also get a red hat that says “I won” on it because you’re an insecure dipshit in a cult that needs constant validation because your father didn’t love you, elon.
There are some problems with it that make it not as simple as it would appear.
If it was 100% perfect and not cheatable then the economy would a just around it as the new norm. In a few years people would say “you can get by on 99 million” and they’d be right. There would be calls to lower it again and the economy would shift around it. Imagine an MMO with a max coin cap and you can visualize the economy of it. The price of everything might eventually come down, but we would still be unable to afford any of.
It’s cheatable. Elon can’t make 70 billion in one year? That’s why he has 70 kids and they’re all employees of Eloncorp and they each make 1 billion. Or, if you don’t trust your kids (which he probably wouldn’t since …) You could just form 70 corporations to hold the money.
Rich peoples money is tied up by accountants and lawyers so tight there isn’t a magic fix for it. Elon could litigate through an entire presidency until his paid for politician was elected and could undo the tax laws.
Point 2 I agree 110%. It’s why the system in and of itself is flawed. The more money you have the more you learn to protect it. The problem needs to be fixed on the person level and that’s not happening because you will always have rich assholes that will lie, cheat and steal.
Point 1. You don’t know that and none of us do. You may be swinging at windmills for all we know.
My inner Trotskyist telling me that this is actually a very good transitional demand
It’s a whole can of worms no one in the financial sector wants to tax unrealized gains like you’re imagining tho. I like the idea in general.
The main part of the tax is that rich assholes would not longer be able to use those unrealized gains as collateral for loans. Because as soon as those gains are realized, they’re taxed.
This alone would massively limit the power of rich assholes.
Yup, the borrow buy die financial strategy should be 100% illegal.
Honestly, at this point I wouldn’t be surprised if they backstop a Bitcoin bubble bust with taxpayer money. This country has been fully corrupt for some time now.