{"id":423869,"date":"2022-03-30T16:51:21","date_gmt":"2022-03-30T13:51:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tesla-spacex-may-have-died-if-wealth-tax-existed-in-2008\/"},"modified":"2022-03-30T16:51:21","modified_gmt":"2022-03-30T13:51:21","slug":"tesla-spacex-may-have-died-if-wealth-tax-existed-in-2008","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tesla-spacex-may-have-died-if-wealth-tax-existed-in-2008\/","title":{"rendered":"#Tesla, SpaceX may have &#8216;died&#8217; if wealth tax existed in 2008"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413d1d3847a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413d1d3847a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tesla-spacex-may-have-died-if-wealth-tax-existed-in-2008\/#%E2%80%9CTesla_SpaceX_may_have_%E2%80%98died_if_wealth_tax_existed_in_2008%E2%80%9D\" >&#8220;Tesla, SpaceX may have &#8216;died&#8217; if wealth tax existed in 2008&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CTesla_SpaceX_may_have_%E2%80%98died_if_wealth_tax_existed_in_2008%E2%80%9D\"><\/span>&#8220;Tesla, SpaceX may have &#8216;died&#8217; if wealth tax existed in 2008&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Elon Musk has slammed the White House\u2019s plan to impose a \u201cbillionaires\u2019 tax\u201d on the wealthiest Americans \u2013 claiming that his companies likely wouldn\u2019t have survived if the levy had been in place following the 2008 financial crisis.<\/p>\n<p>The so-called \u201cBillionaire Minimum Income Tax\u201d included in Biden\u2019s fiscal 2023 budget proposal would implement a 20% minimum tax on US households worth more than $100 million. The plan would target both stated income and unrealized capital gains.<\/p>\n<p>Musk responded a blog post by American Enterprise Institute fellow James Pethokoukis, which detailed University of Chicago economist\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.chicagobooth.edu\/faculty\/directory\/k\/steven-neil-kaplan\">Steven Kaplan<\/a>\u2019s argument that cash-str<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed Tesla and SpaceX could have collapsed in 2008 if the billionaire had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=rbHjoxoO9ZY\">exited PayPal with $60 million less<\/a> due to a wealth tax.<\/p>\n<p>\u201cGood point. SpaceX &amp; Tesla would probably have died, since both narrowly escaped bankruptcy in 2008,\u201d Musk tweeted in response to the post.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Good point. SpaceX &amp; Tesla would probably have died, since both narrowly escaped bankruptcy in 2008.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1509003338993610764?ref_src=twsrc%5Etfw\">March 30, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>Musk has plenty of incentive to speak out against a billionaire\u2019s tax. The Tesla founder is the world\u2019s richest individual, with a personal net worth estimated to exceed $290 billion as of Wednesday.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/us-policy\/2022\/03\/26\/billionaire-tax-budget-biden\/\">By one estimate<\/a>, Musk would pay an additional $50 billion in taxes under the latest Biden proposal.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Elon-Musk-3.jpg?w=1024\" alt=\"Elon Musk at Tesla Germany factory\" class=\"wp-image-21712588\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Elon-Musk-3.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Elon-Musk-3.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Elon-Musk-3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/Elon-Musk-3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>By one estimate, Elon Musk would pay $50 billion under a wealth tax.<\/figcaption><figcaption><span class=\"credit\">BACKGRID<\/span><\/figcaption><\/figure>\n<p>Musk has described 2008 as \u201cdefinitely the worst year of my life\u201d as he struggled to keep Tesla and SpaceX afloat while going through a divorce. He invested all of the $180 million in his proceeds from the sale PayPal into the firms.<\/p>\n<p>President Biden and other proponents of a billionaire\u2019s tax \u2013 including frequent Musk foe Sen. Elizabeth Warren (D-Mass.) \u2013 argue it is necessary to ensure all Americans are paying their fair share in taxes. The Biden administration has also floated a wealth tax as a key source of revenue to pay for its expansive slate of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> spending programs.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/spacex-33.jpg?w=1024\" alt=\"SpaceX launch\" class=\"wp-image-21712590\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/spacex-33.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/spacex-33.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/spacex-33.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Both Tesla and SpaceX were in danger of collapse during the Great Recession.<\/figcaption><figcaption><span class=\"credit\">NurPhoto via Getty Images<\/span><\/figcaption><\/figure>\n<p>\u201cI\u2019m happy to celebrate success, but let\u2019s remember, Elon Musk didn\u2019t make it on his own,\u201d Warren <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/03\/29\/sen-elizabeth-warren-says-billionaires-should-pay-more-taxes-to-help-the-next-elon-musk.html\">told CNBC<\/a> this week. \u201cHe got huge investments from the government, from taxpayers, from those public school teachers and those minimum wage workers who\u2019ve been paying their taxes all along to get that business up and running and help see it through rough times.\u201d<\/p>\n<p>Musk, who referred to Warren as \u201cSenator Karen\u201d during one heated Twitter spat in December, said at the time that he will \u201cpay more\u00a0taxes\u00a0than any American in history this year\u201d \u2013 with a bill exceeding $11 billion.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/30\/elon-musk-tesla-spacex-may-have-died-if-wealth-tax-existed-in-2008\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Tesla, SpaceX may have &#8216;died&#8217; if wealth tax existed in 2008&#8221; Elon Musk has slammed the White House\u2019s plan to impose a \u201cbillionaires\u2019 tax\u201d on the wealthiest Americans \u2013 claiming that his companies likely wouldn\u2019t have survived if the levy had been in place following the 2008 financial crisis. The so-called \u201cBillionaire Minimum Income Tax\u201d&#8230;<\/p>\n","protected":false},"author":1,"featured_media":423870,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/elon-musk_03-2-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[127317,77105,39394,991,70678,46483,36402],"class_list":["post-423869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-3-30-22","tag-elizabeth-warren","tag-elon-musk","tag-joe-biden","tag-spacex","tag-taxes","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=423869"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/423869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/423870"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=423869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=423869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=423869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}