Elon Musk's tax dollar should be dedicated to public transport
It has to be hard to be Elon Musk. Yep, everyone's favorite Space Karen is crying into it giggle melancholy and fiddling with his flame-throwing in anger. It has focused on a proposal before the U.S. Senate to tax Musk and his wealthiest friends.
In particular, these billions would be subject to a 23.8% capital gains tax on the higher value of unsold assets such as stocks and bonds.
Elon has plenty of money
Let's be clear: the person is almost certainly buying anonymous baby food for X Æ A-12. Its net worth rose with weariness $ 36.2 billion alone Monday in response to a rise in Tesla stock.
he is reported earning $ 610.8 million a week - that's $ 152.7 million a day, $ 6.3 million an hour, or $ 106,000 a minute.
But let 's not forget that with the fact that we pay our taxes every year (and it's not paying), we have effectively subsidized not only Elon Musk's lifestyle , but also on his empty projects. While Elon pays capital gains tax and property taxes, he lives in Texas, which has no personal income tax.
How do you feel about subsidizing Musk vacancy projects with your tax?
A large chunk of Elon Musk's companies receive government funding. In 2015, research by the LA Times into Tesla, SolarCity, and SpaceX they found that they had received approximately $ 4.9 billion in government support in grants, loans, and contracts.
Even more dodgier, in 2020, Tesla delivered more than $ 400 million from selling environmental credits to car manufacturers do not sell enough cars with zero emissions to meet government orders. These beliefs were the only reason Tesla he turned a profit in his early years.
And let us not forget the amount of money given to Musk companies to send the rich and prosperous people to Mars. Look, no all bad, for example, SpaceX won $ 900 million from the U.S. government to expand broadband access to rural America. This is a good investment in satellites, especially if it translates to connections to remote areas in South America, Australia and Africa.
However, most of the money spent on various Elon Musk initiatives depends on investing in sustainable public transport.
The problem is public transport, not flying people into space
Extremely historic shortage of financial and infrastructure investment in U.S. public transport means heavy pollution is forcing people to get into their cars - more than 70% of Americans drive To work.
It creates road congestion which means some people are consuming over 40 hours a year in traffic tags. In 2020, LA area passengers spent 46 hours on the road, while New York drivers spent about 56 hours.
In addition, poor, Black and Hispanic people (as well as the elderly and disabled) are the largest users of public transport. Poor planning in cross-city transport means that short-term travel can take hours and a number of transport changes.
But there is no one who encourages public transport. Sexual launch parties or party swag are not special, just a region that was so vulnerable that it needed huge financial support after people stopped cycling due to the closure of COVID-19.
While I am genuinely passionate about transport innovations such as the development of autonomous vehicles, I would like to see a different funding allocation. What Elon could pay in tax could fund a lot of money.
Elon, how about paying tax voluntarily to fund public transport?
Let 's take a look at that same earnings of $ 36.2 billion on Monday and compare it to the cost of public transport. Maths is hard and boring, but let's make it easy.
We're going to talk about millions vs billion won by Elon in one day, so you have to remember that there are 1000 million in billions.
What level of tax is required to fund public transport?
Expansion of Metro Los Angeles with 14km (9 miles) costing more than $ 9 billion, so Elon could have expanded 40km with his windmill on Monday.
He could build even a smaller railway. Railway economist Jim Blaze did well to build a railway for FreightWaves so we don't have to. He explained:
Excluding the cost of the land, the base rails + tie + ballast + sub-assembly and classification as capital budget cost could amount to between $ 3.5 million and $ 4.5 million per thousand tracks when built as one-way main line.
If you build a second major parallel route, then consider adding another $ 1 million to $ 1.5 million per mile to the budget plan.
Are you building this route in an urban area? Sensibly add $ 2 to $ 4 million in the next thousand to the capital construction budget. Add more if the ground needs tunnels and bridges. Add even more if moving resources or structures.
He notes that older line upgrades come in even lower at a range of $ 150,000 per mile.
Buses are even cheaper. Texas A&M University predict route costs approximately $ 90,000 to $ 180,000 per year for each new bus. A new bus will cost around $ 500,000 to buy (probably closer to $ 800k for electricity.)
This is an area that requires innovation. The shortage of school bus drivers is so severe that the National Guard now driving school buses.
Let’s not forget the Hyperloop
While I're not against Hyperloop tech, we say spade is a spade, or in this case, a tunnel tunnel. Elon's Boring Company spent $ 52 million on the 1.5 mile Las Vegas' Loop that’s just a handful of cars in a tunnel and there are not even independents at that. If you are looking for the Hyperloop, you may be waiting for a while.
Okay, it's clear that Elon is a very important and busy man. I don’t see it stepping up to drive a few plants to school or putting a tunnel somewhere that is very useful which eliminates the need for large chunks of bumper-to drive -bumper.
But it can be a bit silly to pay taxes like the rest of us - and by extension, investing in public transport.