Summary
Elon Musk’s threats to fund primary challengers to Democrats in safe districts, following his role in nearly forcing a government shutdown, have reignited calls for campaign finance reform.
Musk, who spent $277 million backing Republicans, criticized a bipartisan spending bill and used his platform to sway GOP opposition, influencing legislative outcomes.
His intervention has sparked outrage among Democrats, with leaders like Bernie Sanders and Alexandria Ocasio-Cortez warning of rising oligarchy and calling for reforms to limit super PAC and dark money influence.
The episode highlights growing concerns over Musk’s political power and its impact on democracy.
It’s a whole can of worms no one in the financial sector wants to tax unrealized gains like you’re imagining tho. I like the idea in general.
The main part of the tax is that rich assholes would not longer be able to use those unrealized gains as collateral for loans. Because as soon as those gains are realized, they’re taxed.
This alone would massively limit the power of rich assholes.
Yup, the borrow buy die financial strategy should be 100% illegal.
Honestly, at this point I wouldn’t be surprised if they backstop a Bitcoin bubble bust with taxpayer money. This country has been fully corrupt for some time now.