Anyone with an IQ over 100 can’t take this post seriously. Musk does not have a trillion in taxable assets. He has massive unrealized gains in the form of stock in his own companies. He doesn’t have a trillion in cash sitting in the bank…idiots.
So here is how your big plan ultimately bites you in your ass: the idiot politicians, who wrote the tax code to begin with, agree to tax unrealized gains for billionaires. Sounds good so far until you start doing math.
Then they change it to millionaires. This is where they can actually raise more funds for their fraud and waste because there are only like 400 billionaires to begin with. So your “millionaire on paper” buddy with 500k in his 401k and $500k in equity in his home now gets hit with a $50,000 tax bill. He doesn’t have the cash so he borrows it from his 401k…which hurts his ability to retire and sell his home.
See the problem yet? If you don’t, you will never see it until it hits you…which it will. If you do and you try to play it down, you’re simply a liar.
It is not the money but rather the precedent of taxing unrealized gains that none of you brilliant “economists” seem to know about or care to discuss.