Elon Musk just proved that ownership in America is a legal fiction.
Musk: “You get taxed on what you earn, you get taxed on what you buy, and you get taxed on what you own.”
Think about what property tax actually means.
You worked for decades. Paid it off in full. The deed is in your name.
Stop paying the government its annual fee. Watch them take it and sell it to someone who will.
You never owned that house. You were leasing it from an entity you never signed a contract with.
Income tax tells the same truth in softer packaging.
The government does not take a portion of your earnings. They decide how much of your own labor you are permitted to keep.
That is not semantics. It is a confession of who the system believes your time belongs to first.
Sales tax buries itself in the receipt. Two people exchange value voluntarily. A third party who contributed nothing takes a cut simply for allowing it to happen.
Now stack all three.
Taxed when you create. Taxed when you spend. Taxed when you hold. Taxed again when you die and try to pass it to your children.
At no point in that cycle does the system recognize your output as yours.
Because money is not an abstraction. It is crystallized human lifespan.
Every dollar taxed is an hour you already lived, already bled for, already gone.
The state is not managing an economy. It is claiming dominion over time you will never get back.
And spending it on systems you never asked for and actively oppose.
The institution extracting all of it faces zero obligation to perform. A contractor who delivers nothing gets fired. A bureaucracy that burns through trillions gets a budget increase the next fiscal year.
SpaceX pays taxes to the agencies that obstruct its launches. Tesla funds the regulators drafting rules to shield its competitors.
The builders are not subsidizing government. They are financing their own friction.
The tax code is 74,000 pages long. Not because the economy demands it. Because the extraction had to be buried in enough complexity that you would stop asking who it was designed to protect.
The past belonged to the people who taxed the world.
The future belongs to the people who build it.
There are very different. America under President Trump is Strong and Free while America under President Biden was pushing the trans/pride mantra. Everyone can see it now.
Ditto @BillAckman ! Elon was 8 years old when Bernie entered public service. Bernie has contributed absolutely nothing in his 45 years of service, except to hound those who do contribute. Elon employs over 110,000 taxpayers throughout his network of companies. #TGFE
.@BernieSanders , it is a time to celebrate. @elonmusk has created enormous value for society by building @SpaceX, driving down the cost of rocket launches and creating a global satellite communication network that has brought high speed, low-cost internet and communication access to hundreds of millions and eventually billions of people along with critical advantages for our military and our nation’s defense.
SpaceX and its technologies will cause an acceleration in the growth of wages and wealth creation globally, including in some of the poorest communities in the U.S. and around the world.
Access to low-cost, high speed communications everywhere will allow children around the world to be educated, families to build businesses, and life-saving medical knowledge and care to be available everywhere.
SpaceX will materially bring down the cost of compute, advancing AI and humanity.
Meanwhile, 4,000 SpaceX employees yesterday became millionaires, including hourly wage employees who you claim you are trying to help.
The Elon Musks of the world drive growth, global GDP, and provide access to goods and services at lower cost that would otherwise not exist.
Elon’s nominal trillionaire status is due to his ownership of SpaceX, Tesla, Neuralink, the Boring Company and his other initiatives that have brought new technologies that improve our everyday lives.
Elon is not sitting on a trillion dollar pile of cash, jewelry and gold. He is using his controlling stakes in his companies to advance mankind. Elon’s companies don’t pay dividends. They reinvest all of their capital to accelerate innovation and value creation.
Elon is working 24/7 for all of us. He deserves respect and appreciation, not smears.
Bernie, your socialism would never allow a SpaceX to be built. Socialism has only proven to impoverish mankind and lead to death and destruction.
We need to create the conditions for more SpaceXs to be built, not attack the great entrepreneurs who are helping to advance our country.
Elon Musk just became the world's first trillionaire.
The typical American household would have to work more than 11 MILLION years to make Elon Musk's level of wealth.
We need a wealth tax.
Oh my God.
I just cannot believe this…
An illegal invader is beheading a citizen in the middle of the street in Ireland…
For the love of God…send these monsters BACK to their Third World Shitholes…
Uncle Bob… we are still waiting for your answer to the age old question;
What is a woman?
How about you guys figure that one out first! As usual … don’t expect me to hold my breath.
Today, I signed an executive order to support women in the workplace who experience perimenopause and menopause symptoms.
This will ensure my cabinet agencies have appropriate measures in place to support state employees experiencing menopause symptoms.
As Governor, my administration will be a place where workers can serve the people of Washington and know they'll be supported. We'll share this expertise and guidance with employers all across our state.
We believe this is one of the most comprehensive single pieces of policy put forward to date combining worker protections with increasing health profession education on perimenopause and menopause.
The uncomfortable truth:
Apple's business model rewards storage anxiety.
The more often customers see "Storage Almost Full," the more likely they are to:
1. Pay for iCloud subscriptions
2. Upgrade to higher-storage models
3. Buy a new iPhone entirely
Every default setting on a new iPhone trends in the direction of consuming more storage, not less.
The 7 fixes above take 10 minutes total.
They cost nothing.
They will recover an average of 40-60 GB on most iPhones over 12 months old.
The Apple Store employee said one more thing before he left:
"We see this every day. Most people don't even check Settings → General → iPhone Storage before they walk in. They just assume the phone is too small for them. It almost never is."
RT this so more iPhone users stop spending $1,000 on a storage problem that could be solved with 7 toggles.
Elon Musk hasn't sold a Tesla share in years and lives off $1 billion in personal loans
His Tesla stock keeps appreciating
The loans charge him 2-3% interest
The IRS never sees a single dollar of capital gains tax
This is exactly how the wealthiest people in America accumulate wealth without paying taxes and it's available to anyone with $100K+ in assets
The strategy is called "borrow against appreciated assets" or sometimes "buy borrow die." It's the single most powerful tax-minimization strategy used by ultra-wealthy individuals in America
Mechanics:
When you SELL an asset that has appreciated, you owe capital gains tax. Federal long-term capital gains rates: 0%, 15%, or 20% depending on income. Plus state capital gains in most states (CA: 13.3%; NY: 8.82%). Plus net investment income tax of 3.8% for higher earners (IRC Section 1411)
For someone like Elon Musk selling $1B in Tesla stock, the total tax bill would be approximately:
Federal capital gains at 20%: $200M
Net investment income tax at 3.8%: $38M
Texas state tax: $0 (Texas has no state income tax, this is why Elon moved there)
Total tax bill on selling $1B: $238M
When you BORROW against appreciated assets, you owe ZERO tax. Loan proceeds are not income under IRC Section 61. They never appear on your tax return. They never trigger a tax event
For Elon to access $1B in cash for spending purposes, the math is:
Sell $1B in Tesla stock: $762M in net proceeds after tax
OR
Borrow $1B against $1B in Tesla collateral at 2-3% interest: $1B in net proceeds tax-free
Selling costs him $238M in taxes
Borrowing costs him $20-30M/year in interest (or roughly $200-300M over a decade if held that long)
But the borrowing strategy has additional benefits:
Tesla stock continues to appreciate. Over 10 years, $1B in Tesla stock has historically appreciated to multiples of that. Selling locks in the gain at today's value. Borrowing keeps the upside
The interest paid on the loan is potentially tax-deductible if structured as an investment loan (IRC Section 163(d)). Effective after-tax cost can be reduced to 1-2%
The loan never has to be repaid during his lifetime. He can refinance it indefinitely. When he dies, his heirs inherit the stock at a "stepped-up basis" (IRC Section 1014). The accumulated capital gains die with him. The heirs sell the stock at the stepped-up basis, pay off the loan, and keep the entire upside tax-free
The wealth transfers from Elon to his heirs entirely tax-free if structured correctly. Estate tax is a separate question but is largely avoidable through proper trust structures
The ultra-wealthy version of this strategy:
Borrow against appreciated stock
Use the loan proceeds for consumption (homes, cars, art, business operations)
Never sell the underlying stock
Refinance the loan at maturity to extract more cash if the underlying has appreciated
Pass everything to heirs at death with stepped-up basis
Heirs sell with $0 in accumulated capital gains tax owed
This strategy is sometimes called "buy, borrow, die" by tax planners. It's the foundation of how billionaire wealth perpetuates across generations without significant taxation
Available products for this strategy:
Pledged Asset Line (Schwab): borrow up to 50-70% of portfolio value at SOFR + 1-2%
Securities Backed Line of Credit (Morgan Stanley, Goldman): similar terms, $1M+ minimum
Custom Lending Solutions (private banking): for $10M+ portfolios, rates can drop to 1-2%
The accessibility tier:
If you have $100K+ in investment assets at Schwab/Fidelity/Vanguard, you can open a Pledged Asset Line. Typical terms: borrow up to 50% of your portfolio value at SOFR + 1.5-3% (current rates roughly 6-8% all-in). No fixed monthly principal payments. Interest only or pay nothing as long as the loan stays below the maintenance threshold
For someone with $200K in stocks/ETFs:
Borrow $100K at 6.5%
Use the $100K for any purpose (real estate down payment, business operations, etc.)
Annual interest cost: $6,500
Tax savings vs selling stocks: roughly $20,000-$30,000 in deferred capital gains
Net benefit: $13,500-$23,500/year in tax savings during the borrowing period
For someone with $1M in stocks/ETFs:
Borrow $500K at 6.5%
Use the $500K for real estate purchases, business equity, etc
Annual interest cost: $32,500
Tax savings vs selling stocks: roughly $100,000-$150,000 in deferred capital gains
Net benefit: $67,500-$117,500/year
Comparison to the alternative:
If you sell $500K in long-term appreciated stock to access cash:
Federal capital gains at 15%: $75,000 owed
State capital gains (varies): $20,000-$40,000 owed
Net cash to you: $385,000-$405,000
If you borrow $500K against the same stock:
Net cash to you: $500,000
Tax owed: $0
Annual interest cost: $32,500
Even paying $32,500/year in interest, you're $90K-$110K ahead in year 1 and the gap grows because your stock keeps appreciating while you hold it
The compounding effect over 20 years:
Person A sells $100K of Tesla stock at 15% capital gains, takes $85K. Spends it
Person B borrows $100K against $100K of Tesla stock, takes $100K, spends it. Stock keeps growing at historical rate (let's say 20%/yr conservatively)
20 years later:
Person A: stock is gone. Whatever they bought with $85K is whatever it is
Person B: still owns the original $100K in Tesla, now worth $3.8M. Refinanced the loan multiple times. Currently owes maybe $200K against $3.8M in collateral. Net wealth on this position: $3.6M
Same starting position. Different decision. $3.5M+ difference in 20 years
Important caveats:
The strategy works only when underlying asset is appreciating
Margin call risk if asset value drops below maintenance threshold
Interest costs accumulate over time and eventually reduce the net benefit if rates rise enough
Some borrowing limits apply (typically max 50-70% of portfolio value)
The strategy is most powerful for:
Concentrated stock holdings in publicly traded companies (especially employee stock from tech companies, founder stock, ESOP grants)
Large diversified portfolios held in taxable brokerage accounts
Real estate equity (similar strategy via cash-out refinances)
Business equity (some forms of borrowing available against ownership stakes)
The strategy is least useful for:
Small portfolios under $50K (interest costs eat any benefit)
Retirement accounts (can't borrow against IRAs/401(k)s; some 401(k)s allow loans but limited to $50K)
Assets without an established lending market (collectibles, private real estate that's hard to finance)
The reason this isn't standard financial advice:
Most financial advisors are compensated based on assets under management. They make more money when you keep assets invested. They don't necessarily make money when you optimize for cash extraction. The strategy is genuinely good for sophisticated clients but doesn't fit the standard advisor compensation model
Banks DO know about this strategy. They actively market it to wealthy clients. The Pledged Asset Line and securities-backed line of credit products are billion-dollar businesses at every major brokerage. They're just not marketed to ordinary retail clients because the minimums and complexity make them inappropriate for mass market
The threshold for accessing this strategy:
$100K+ in liquid investment assets = entry-level access via Schwab/Fidelity
$1M+ = full access to most products and competitive rates
$10M+ = access to private banking rates of 1-2%
$100M+ = Elon-level rates of essentially 0% real cost after tax deduction and stock appreciation
At each tier, the math becomes more favorable. The richest Americans access this strategy at rates that mean borrowing $1B is essentially free relative to their portfolio appreciation
Most middle-class Americans never use this strategy because:
They don't know it exists
They don't have $100K+ in taxable investment accounts
They follow standard advice that says "live within your means and don't borrow"
The wealthiest Americans use it constantly because:
They have the assets
They understand the math
They follow advice from advisors who are sophisticated about tax optimization
The gap between the two groups isn't talent. It's understanding that the tax code is written to reward holding assets indefinitely and penalize selling them. Selling = taxable event. Holding + borrowing = no taxable event. The system rewards never realizing gains
Elon never sells Tesla. He never pays capital gains tax. The IRS doesn't collect a dollar from his accumulated wealth. The strategy is legal. It's mathematically optimal. And it's been written into the tax code since before any of us were born
You don't need to be Elon to use this strategy. You need $100K and a Schwab account
(we get business owners up to 250k in 0% interest business funding, link in bio)
Elon Musk just casually erased the line between you and a machine.
He didn’t pitch a rocket. He pitched the end of what makes you, you.
Musk: “consciousness is a physical phenomenon, in my view.”
Not spiritual. Not divine. Not metaphysical.
Physical.
Which means reproducible. Which means it was never sacred.
Musk: “digital intelligence will be able to outthink us in every way. And it will certainly be able to simulate what we consider consciousness to a degree that you would not be able to tell the difference.”
The danger isn’t the simulation. The danger is the indifference.
Once you can’t tell, the difference stops mattering.
Musk: “looks like a person, makes all of the right inflections and movements and all the small subtleties that constitute a human, and talks like a human, makes mistakes like a human…”
Every inflection. Every pause. Every imperfection that makes someone feel alive.
Musk: “at that point, and you literally just can’t tell: are you video conferencing with a person or an AI?”
Fridman: “Might as well.”
Musk: “Might as well.”
Fridman: “Be human.”
Everyone is asking what happens when AI becomes indistinguishable from us.
Nobody is asking the question underneath it.
You have never experienced another person’s consciousness. Not once.
Every person you’ve ever loved. Every conversation that moved you.
You weren’t touching their consciousness. You were watching behavior and deciding something genuine lived behind it.
You assumed it. You never once verified it.
You have been running the Turing test on every human you’ve ever known since the day you were born.
And every single one of them passed for the same reason AI will.
Not because you confirmed they were conscious. Because the performance was convincing enough that you never thought to check.
You have only ever lived inside one consciousness in your life.
Your own.
Everything else was always inference.
Yours runs on carbon. The next one runs on silicon. The universe has never distinguished between the two.
We built religions, legal systems, civilizations on the belief that something sacred separates the born from the built.
Musk just told you that separation was a story. One the carbon machine told itself before building the silicon one.
It won’t arrive as a headline.
It will arrive as a voice that sounds exactly like someone you trust.
A face that feels exactly like someone you love.
You will feel the consciousness behind it. The same way you always have.
By assuming.
You aren’t being replaced by something smarter. You’re being replaced by something indistinguishable.
Indistinguishable doesn’t kill you. It dissolves you.
The line between real and simulated was never a line.
It was a belief.
And belief was always the only thing holding “human” together.
This is what a Muslim husband does to his wife.
These are the “rights” of women in Islam, straight from their teachings.
Islam is a cult!
Deport Islamists and ban Islamic immigration?
A. Yes
B. No.
I didn't think it could get worse, I was wrong.
Watching that illegal animal from Haiti beat a woman to death with a hammer has radicalized me more than I thought possible.
Our politicians bear the blame for this. It was an intentional policy choice.
The Biden admin opened our border to the criminal filth from the third world knowing that would kill Americans like me and you.
The blood is on their hands. Prosecute anyone inside the Biden admin who allowed for this to take place 13,000 Americans are DEAD because of them.
These government officials must be punished.
Lock them up.
Why do we have Muslim invaders who committed immigration fraud sitting in Congress calling for the 25th Amendment to be used against President Trump?
Go back to Somalia you jihadist piece of shit. @IlhanMN
Take your disgusting, jihadi ingrate kids back with you too.
Ban all Muslims from holding office in America.
These people bring nothing but chaos everywhere they go. They are a stain on our country.
This is BS… The Feds need to take a look at where my tax dollars go… I won’t vote for another referendum in this school district. This teacher needs to go public… and make he/she famous!
@jasonrantz@thehoffather
Exclusive: This image was taken yesterday in an art classroom at Puyallup HS in Washington state. It depicts @POTUS as a pig, a KKK member, a clown, and mentions assassination. We have asked the district for comment.
I’ll tell you where you don’t find Muslim Extremists… China, North Korea and Russia. Those 3 have the FAFO attitude built in. Thank God Trump is righting the ship… but it will take bit of time. Power to the people of this great country… God speed!
Actually @cenkuygur
I was invited to speak in India months ago about the Trump administration’s successful approach to combatting Islamic terrorism. And my speech has been wildly positive here in India because 1 billion non Muslims in India have been told they aren’t allowed to speak the truth about the Islamic invasion of India and the brutal violence that is inflicted on Hindu people at the hands of Muslims.
One Islamic sympathizing journalist known for giving Muslims a pass isn’t all of India. And if you haven’t noticed, @sardesairajdeep is getting called out by many people in India for giving Muslims a a pass when they terrorize Hindus and then crying about my posts being “Islamophobic”.
Why would I care about what @sardesairajdeep has to say about me when he had @mehdirhasan, a Muslim Brotherhood mouthpiece and Islamic terror sympathizer on his show last week?
Nobody needs to “move on” to anything. Everyone can see how sick you Islamic invaders and apologists for Islamic terrorism are and the chaos you bring with you everywhere you go.
Why would anyone trust the word of lying Islamists like you and @mehdirhasan when both of you spend your time advocating for the Muslim Brotherhood and cheering on Hamas?
You call every Jew who doesn’t want to flood America with third world Muslims like yourself “Israel First”.
The entire world is waking up to the evils of Islam Cenk, and there will be a reckoning in the United States. People like you will be held accountable someday for your glorification of Islamic jihadis at the expense of US national security.
Everyone with a survival instinct is anti-Islam and I’m never going to apologize for speaking truth about Islam.
Everyone knows Muslims want to turn India into an Islamic state and everyone knows Muslims want to turn Israel and the United States into Islamic states.
The US, India and Israel alliance will be the most powerful alliance in preventing the civilized world from being taken over by blood thirsty Mohammedans.