Build Back Better - Elon Musk has a few words to the sitting *Resident

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From the London Daily Mail:

'Honestly, I would just can this whole bill': Elon Musk rips Biden's 'Build Back Better' Plan despite its massive subsidies for electric cars

    • Biden's plan includes big subsidies for purchasers and manufacturers of electric cars
    • Musk blasted the legislation despite its subsidies for electric vehicles
    • Purchasers get up to $12,500; manufacturers can get $4,500, but only union shops in the U.S.
    • Musk called to 'get rid of all the subsidies'
    • He also blasted giving 'capital allocation' to the government
    • He has been unloading shares and assets while facing a massive tax bill

Tesla founder Elon Musk tore into President Joe Biden's 'Build Back Better' plan over its tax hit on millionaires and its regulatory framework – even as the plan prepares to provide big subsidies for electric cars.

Musk, who has gone after Democratic tax policies in the past, slammed the proposal in an interview with the Wall Street Journal.

'Rules and regulations are immortal,' he said. 'They don't die. The vast majority of rules and regulations live forever ... there's not really an effective garbage collection system for removing rules and regulations, so this hardens the arteries of civilization where you are able to do less and less over time.

Love that last paragraph - so true.  President Trump was very careful about sunsetting two regulations whenever a new one was introduced.  Cuts down the red-tape. And, to be clear:

'I'm literally saying get rid of all subsidies,' he said.

The government actually makes very little money of its own — land and mineral leases and a few other sources.  All monies for subsidies come from our wallets - our tax dollars. So much money is wasted on subsidies that our economy has grown bloated and inefficient. Time to tighten the belt - let the well run businesses thrive and let poorly thought out and poorly run businesses fail.

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This page contains a single entry by DaveH published on December 7, 2021 9:17 AM.

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