Under the influence of acting president-elect Elon Musk, his subordinate, nominal President- elect Trump, in a tweet early this morning Friday, 12/20) told lawmakers to “get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling. Without this, we should never make a deal.” Now, why would the party supposedly in favor of balanced budgets and a reduced national debt possibly want to end the debt ceiling?
My guess is, acting president Musk would then be able to get an enormous tax cut for himself and his peers, the ultra wealthy. This would also enable the government to grease the wheels of oligarchy by subsidizing SpaceX, Starlink, Neuralink and other Musk ventures. Finally, the oligarchs will deem it necessary to drastically cut social programs, including the ACA, Medicare, Medicaid, SS, and a host of others because balancing the budget will suddenly become a top priority.
Not picking on this comment specifically, but I think there is a lack of understanding of Musk's wealth and power in all these comments. Musk is way, way, way beyond tax considerations. Folks need to get a good understanding of what being a trillionaire means. It's very, very dangerous. And it's not about reporting car crashes on his stupid device, or taxes. Those are easily visible but not important considerations for him, overall.
Actually I disagree. He didn't pay "good money" for it. He barely paid lunch money for it, from his point of view. I am always surprised at how cheap it is to buy the US government. Based on this price, Juan Soto could buy the Federal Government for 1/3 of his new contract and have a Make Baseball Great Again agenda. If I were to put a price on the Federal Government on the open market, I'd put the asking price at $35 TRILLION, plus take on the debt. This is based on current gross revenue in excess of $5T per year, the compulsory nature of those receipts, and the lack of a competitive market.
The BIG PROBLEM here is the fact that as a result of the Reagan Revolution, we have allowed individuals to become so wealthy that they are national (and international) security threats, acting alone. Before, we dealt with giant corporations having less power than Musk et al have alone, and we thought that was a crisis and students protested that loudly.
No one should have the ability to purchase the government. If the price really is $270M, that indicates the most wealth an individual should be able to have is less than $270M. There are several sports contracts for more than that.
There have been some academic studies estimating the maximum income one should be allowed (via a 100% marginal tax rate at the top). I believe the number is around $10 million or so.
I like the idea of limiting top pay to 10X what the minimum paid worker earns in any business or government agency. The janitor makes $50,000? The CEO can't make over $500,000. The CEO gets a $50,000 raise; the janitor must be given a $5,000 raise.
I do think when it comes to taxation, wealth is more important than "income," which is highly manipulable and temporary in nature. Another way to put it is if your income comes via W2, you are getting screwed almost no matter how big that W2 is. That's because every dime you get is reported for all to see. The sports stars, in that sense, are getting less of a deal than the owner counting the hot dog sales. People whose income comes from more complex sources generally pay a much lower tax rate on spendable income (just ask Warren Buffet, or Joe the Plumber). I think "wealth" per se is also difficult to get a grasp on and properly regulate, but it's a lot easier than income, as we define those words legally.
I favor a wealth tax as proposed by Elizabeth Warren; but at a much higher rate. I don't think it would be unreasonable to tax 100% on net worth over $1billion. I know some would have to struggle to get by on a fortune of a lousy billion, but imagine the good that could be done by funneling that money through government programs to help those with inadequate housing, food, and medical care. After all, past exploitation by billionaires of people in need, seems justification enough.
I am of the opinion that it is not possible for anyone to have "earned" a billion dollars. The government has "legalized" scams and not been doing its job of "promoting the general welfare."
But too many Americans have been brainwashed into believing the Musks and Bezos earned this wealth in an acceptable way, not realizing "legal" does not necessarily mean "acceptable."
I don't know where the line on "earned" is and whether that's the ethical or legal line. I do think that billionaires get A LOT more out of the government than a welfare recipient or a middle-class tax payer. And they should pay for it, and income tax rates are not nearly sufficient to cover that.
I remember one of the Federalist papers or letters, I think between Jefferson and Monroe (I dunno, it was a long time ago when I read this stuff). And it was about progressive taxes, and I think Monroe said something like the government protecting capitalism and the institutions benefitted the rich in a disproportionate manner so they should pay more. Think of the police protecting houses from being robbed, for example. Or property laws. Or inheritance.
Money talks. Need to keep reminding Trump that he is SECOND FIDDLE to Musk! President Musk and Vice President Trump. With the BILLIONAIRES waging Trump by the tail. Donnie needs the vote of the little people and then is taken control of by the Billionaires..........and begins his servitude to them.............
I've seen comments by Reps Goldman and Crockett referring to President or co-president Musk. This needs to be done over and over because Trump, even if he doesn't really care about the role and responsibilities of the President, he sure as hell doesn't want to cede attention to Musk. People like Steve need to keep doing this, we should in our conversations, and any Ds in Congress should do it. And throw in a "Vice President Trump" at the same time. And then talk about ALL of President Musk's followers on a superior to Truth Social platform like X. Trump will lose his shit. And no, I don't use X, but just another thing to "own the MAGAs".
Also Steve, great way to show the difference between a million, a billion, and a trillion. Reminds me of KC Cole in her book, The Universe and the Teacup, where she gave wonderful examples of concepts too large to truly comprehend but in everyday terms that made it perfectly clear. Kudos!
Jasmine Crockett knows how to take the fight to MAGA. She would make a good Senator. And for some Southern voters who seem to feel the need for a certain orthodoxy, she is a Baptist who went to Rhodes College in Tennessee.
The richest man in the world, President-elect Elon Musk, just had his insane, anti-government and anti-human budget cojones crushed by 38 members of his own party in the House of Representatives. So he can take his un-American, Afrikaner-minded craving for domination and shove it up his X-hole.
I honestly think that Musk did something technically that helped Trump win (remember Trump said the two of them had a secret?) and now Musk is using it to get everything he wants. Also if you notice he doesn’t leave Trump’s side and I think it’s to keep Trump from spilling the beans by accident.
Jamelle Bouie lays it out well what the democrats need to do in becoming the opposition party. Just what Steve has been expressing for weeks now. I’m doubtful but trying to hold on to hope.
Some of the most unfit people have been elected by Americans. This is a problem of our own making rather than a problem of weird wolves and deranged harpies getting nominated. Let’s just say a few names in the Senate. People that We The People have democratically elected: Tommy Tuberville, Markwayne Mullin, Marsha Blackburn, Ron Johnson, Katie Britt, Rick Scott, Mitch McConnell. We hold up a mirror to ourselves and this is who we see.
All true. It's kind of easier to understand or accept those elected to the Senate in strong red states or for the House, especially in light of gerrymandering districts. The one that still kicks me in the groin is Trump winning a second term in popular vote and the electoral college. That one will never be reconciled in my brain. Yea, I know and have spouted off the many reasons here, but it still is so hard to process/accept.
Let’s start preparing RIGHT NOW for a robust midterm election. We desperately need a Democratic majority in the House…and by 2026 it will be within reach.
Whew that's some video Steve. Thank you!! Elon sure bought him a President didn't he?! Makes me nauseous but I'm still ready to fight. Thanks for the money parable too. That was very good. Question: Will you be watching on January 20? Don't think I can bear to this year.
Elon paid good money for the US government. And by golly he will get his moneys worth! Full control of the Executive Branch and Congress.
And shame/bribe the Supremes to rule as he directs! Everyone has a price.
It didn’t even cost him a 350K RV which I’m guessing in seconds is about 3 days.
Under the influence of acting president-elect Elon Musk, his subordinate, nominal President- elect Trump, in a tweet early this morning Friday, 12/20) told lawmakers to “get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling. Without this, we should never make a deal.” Now, why would the party supposedly in favor of balanced budgets and a reduced national debt possibly want to end the debt ceiling?
My guess is, acting president Musk would then be able to get an enormous tax cut for himself and his peers, the ultra wealthy. This would also enable the government to grease the wheels of oligarchy by subsidizing SpaceX, Starlink, Neuralink and other Musk ventures. Finally, the oligarchs will deem it necessary to drastically cut social programs, including the ACA, Medicare, Medicaid, SS, and a host of others because balancing the budget will suddenly become a top priority.
Not picking on this comment specifically, but I think there is a lack of understanding of Musk's wealth and power in all these comments. Musk is way, way, way beyond tax considerations. Folks need to get a good understanding of what being a trillionaire means. It's very, very dangerous. And it's not about reporting car crashes on his stupid device, or taxes. Those are easily visible but not important considerations for him, overall.
People like Musk can never have enough. Their insatiable greed leads to miserable lives.
Actually I disagree. He didn't pay "good money" for it. He barely paid lunch money for it, from his point of view. I am always surprised at how cheap it is to buy the US government. Based on this price, Juan Soto could buy the Federal Government for 1/3 of his new contract and have a Make Baseball Great Again agenda. If I were to put a price on the Federal Government on the open market, I'd put the asking price at $35 TRILLION, plus take on the debt. This is based on current gross revenue in excess of $5T per year, the compulsory nature of those receipts, and the lack of a competitive market.
The BIG PROBLEM here is the fact that as a result of the Reagan Revolution, we have allowed individuals to become so wealthy that they are national (and international) security threats, acting alone. Before, we dealt with giant corporations having less power than Musk et al have alone, and we thought that was a crisis and students protested that loudly.
No one should have the ability to purchase the government. If the price really is $270M, that indicates the most wealth an individual should be able to have is less than $270M. There are several sports contracts for more than that.
There have been some academic studies estimating the maximum income one should be allowed (via a 100% marginal tax rate at the top). I believe the number is around $10 million or so.
I like the idea of limiting top pay to 10X what the minimum paid worker earns in any business or government agency. The janitor makes $50,000? The CEO can't make over $500,000. The CEO gets a $50,000 raise; the janitor must be given a $5,000 raise.
I do think when it comes to taxation, wealth is more important than "income," which is highly manipulable and temporary in nature. Another way to put it is if your income comes via W2, you are getting screwed almost no matter how big that W2 is. That's because every dime you get is reported for all to see. The sports stars, in that sense, are getting less of a deal than the owner counting the hot dog sales. People whose income comes from more complex sources generally pay a much lower tax rate on spendable income (just ask Warren Buffet, or Joe the Plumber). I think "wealth" per se is also difficult to get a grasp on and properly regulate, but it's a lot easier than income, as we define those words legally.
I favor a wealth tax as proposed by Elizabeth Warren; but at a much higher rate. I don't think it would be unreasonable to tax 100% on net worth over $1billion. I know some would have to struggle to get by on a fortune of a lousy billion, but imagine the good that could be done by funneling that money through government programs to help those with inadequate housing, food, and medical care. After all, past exploitation by billionaires of people in need, seems justification enough.
I am of the opinion that it is not possible for anyone to have "earned" a billion dollars. The government has "legalized" scams and not been doing its job of "promoting the general welfare."
But too many Americans have been brainwashed into believing the Musks and Bezos earned this wealth in an acceptable way, not realizing "legal" does not necessarily mean "acceptable."
I don't know where the line on "earned" is and whether that's the ethical or legal line. I do think that billionaires get A LOT more out of the government than a welfare recipient or a middle-class tax payer. And they should pay for it, and income tax rates are not nearly sufficient to cover that.
I remember one of the Federalist papers or letters, I think between Jefferson and Monroe (I dunno, it was a long time ago when I read this stuff). And it was about progressive taxes, and I think Monroe said something like the government protecting capitalism and the institutions benefitted the rich in a disproportionate manner so they should pay more. Think of the police protecting houses from being robbed, for example. Or property laws. Or inheritance.
The Warning: accurate explanation of Elon's power, and trump's stupidity. We're in for a bumpy ride.
Money talks. Need to keep reminding Trump that he is SECOND FIDDLE to Musk! President Musk and Vice President Trump. With the BILLIONAIRES waging Trump by the tail. Donnie needs the vote of the little people and then is taken control of by the Billionaires..........and begins his servitude to them.............
"Money-talk is louder than talk-talk." (Carl Sandburg)
Frightening that we will be governed by a proxy President.
Yea, in first term, many believed that proxy was Putin and would be again. How silly. President Musk indeed.
Steve: you are PURE GOLD!!!
😍😍😍😍😍❤️❤️💪👍🙏🤾♀️
I've seen comments by Reps Goldman and Crockett referring to President or co-president Musk. This needs to be done over and over because Trump, even if he doesn't really care about the role and responsibilities of the President, he sure as hell doesn't want to cede attention to Musk. People like Steve need to keep doing this, we should in our conversations, and any Ds in Congress should do it. And throw in a "Vice President Trump" at the same time. And then talk about ALL of President Musk's followers on a superior to Truth Social platform like X. Trump will lose his shit. And no, I don't use X, but just another thing to "own the MAGAs".
Also Steve, great way to show the difference between a million, a billion, and a trillion. Reminds me of KC Cole in her book, The Universe and the Teacup, where she gave wonderful examples of concepts too large to truly comprehend but in everyday terms that made it perfectly clear. Kudos!
Jasmine Crockett knows how to take the fight to MAGA. She would make a good Senator. And for some Southern voters who seem to feel the need for a certain orthodoxy, she is a Baptist who went to Rhodes College in Tennessee.
The richest man in the world, President-elect Elon Musk, just had his insane, anti-government and anti-human budget cojones crushed by 38 members of his own party in the House of Representatives. So he can take his un-American, Afrikaner-minded craving for domination and shove it up his X-hole.
“X-hole”. Perfect!
I honestly think that Musk did something technically that helped Trump win (remember Trump said the two of them had a secret?) and now Musk is using it to get everything he wants. Also if you notice he doesn’t leave Trump’s side and I think it’s to keep Trump from spilling the beans by accident.
Jamelle Bouie lays it out well what the democrats need to do in becoming the opposition party. Just what Steve has been expressing for weeks now. I’m doubtful but trying to hold on to hope.
Where did the 260 billion dollars come from? Is that real money?
I have the same question about this # of Elon's increased value that keeps getting bounced around.
I assume it’s increased value of his holdings, but I can’t believe they could *double* in such a short time!
Some of the most unfit people have been elected by Americans. This is a problem of our own making rather than a problem of weird wolves and deranged harpies getting nominated. Let’s just say a few names in the Senate. People that We The People have democratically elected: Tommy Tuberville, Markwayne Mullin, Marsha Blackburn, Ron Johnson, Katie Britt, Rick Scott, Mitch McConnell. We hold up a mirror to ourselves and this is who we see.
All true. It's kind of easier to understand or accept those elected to the Senate in strong red states or for the House, especially in light of gerrymandering districts. The one that still kicks me in the groin is Trump winning a second term in popular vote and the electoral college. That one will never be reconciled in my brain. Yea, I know and have spouted off the many reasons here, but it still is so hard to process/accept.
Agree. But there was $$$$ and Russian/Chinese influence. Plus 35 years of Fox
making the electorate incapable of critical thinking. Oh, and their substandard
“education”, which, creates veritable imbeciles.
Welcome to the good ol USA everyone.
Yes, it is “we the people“ that are to blame.
(“Weird wolves?“ I assume you meant werewolves. 😊)
Who says an immigrant can’t be president?
Let’s start preparing RIGHT NOW for a robust midterm election. We desperately need a Democratic majority in the House…and by 2026 it will be within reach.
Whew that's some video Steve. Thank you!! Elon sure bought him a President didn't he?! Makes me nauseous but I'm still ready to fight. Thanks for the money parable too. That was very good. Question: Will you be watching on January 20? Don't think I can bear to this year.
Thought I would pass for similar reasons, but I want to be in the groove for when Steve goes "Benihana" on T the next day
I predict that the grifter/musk axis will not last very long. The grifter will fire him because it takes the spotlight away.
We are getting the government we deserve -- good and hard.