these are the unintended consequences when an uninformed politician cannot see uh the the future and does not understand economics three senators have introduced a bill that if passed will most likely cause a stock market crash and potentially propel us into the greatest depression many people don't know this but i have owned teslas my first tesla was a 2010 roadster my second tesla which i still own is a 2011 roadster my third tesla was a 2012 model s signature edition and my fourth tesla is the 2018


model 3 dual motor performance that i currently drive on a regular basis it's here in puerto rico my roadster is still on the mainland getting some modifications but once you these cars have the highest customer loyalty that there is i don't talk about them much i mean once you've owned one you just can't buy anything else i don't talk about them much because they are so polarizing so many people just hate elon musk and they hate tesla and they want it to fail badly i'm basically a tesla supporter but


because it is so controversial and polarizing i stay away from it because i want people to learn about economics they don't have to learn about tesla that's just fine but i came across this because i'm addicted to tesla news so i go to this website teslarati.com uh and i do it a couple of times a week just to see how quickly this guy is changing the world uh he's already cut more than 50 percent out of the cost of space travel and uh by the time he's done he will have cut more than 90 percent of the


cost of space travel but anyway bernie sanders wants to wants elon musk to pay a one-time 27.5 billion dollar tax well it isn't just elon musk you know this is written on that website but basically it's a 60 tax on gains made from march 18th 2020 that was when the stock market bottomed in march so all of these people that had stock lost a huge portion of their wealth through january 1st 2020 where they made a large portion of their wealth back now with elon musk he met a lot of production targets and


so on they're the only automotive company to show growth in the second quarter of 2020. every other automotive company shrank as far as the number of cars produced and they showed a profit in the second quarter of 2020 during the global health problem and so this is the make billionaires pay act and he's talking about a 60 tax during that market the the rebound from the market crash and uh uh it'll tax 731 billion dollars of wealth uh of 467 different billionaires and so it's going to raise


421 billion in taxes now what bernie doesn't seem to understand you know this is i'm sorry it's not just bernie so i like to try to not be political and to keep my political bashing you know even i try and bash republicans and democrats the same because both of them have spending problems and they they they can't get it under control and it doesn't matter which party it is so anyway this 421.7 billion they don't happen to have that in their wallets right now they don't happen to have that in their


checking accounts um you know it's supposed to be enough to pay for all of the out-of-pocket health care expenses for everyone in america over the next 12 months so that's the reason for it but in order for um jeff bezos of amazon to pay 42.8 billion dollars and for mark zuckerberg of facebook to pay 22.8 billion dollars and for elon musk to pay 27.5 billion dollars now a lot of that profit like i said he had in his contract where he's awarded stock if he meets certain performance goals he


only gets paid minimum wage from tesla minimum wage in california and then he doesn't cash the checks they just build up in an account he gets paid stock and i believe that he actually borrows from goldman sachs against his stock and that's how he's able to live a billionaire life's lifestyle but uh if if these 467 billionaires are all forced to pay 21. 421.7 billion dollars that means that they have to sell 421.7 billion dollars worth of stock all in a short period of time to be able


to hand all of this cash over to the government this has to go into their checking accounts and then they'll do a wire transfer to the government which means that these 467 different billionaires probably you know if you take a look at the companies in the stock market just the ones that have been mentioned amazon uh facebook and tesla are a huge percentage of the stock market but if you take all of these billionaires it probably makes up more than half the value of this of the stock market and they've got to


sell this close to half a trillion dollars worth of stock all at the same time causing what would be an enormous stock market crash requiring the the federal reserve to rush in and do bailouts these are the unintended consequences when an uninformed politician cannot see uh the the future and does not understand economics but it isn't just bernie sanders this is also ed markey and christian gillibrand so kristen gillibrand um and so it's it's it just shows there are there's no politicians that seem to know


economics very few i mean ron paul did and rand paul does there there are just a few in there nobody wants to listen to them they want to remain economically ignorant and that's what they are i'm not picking it on bernie sanders as a person i'm picking on bernie sanders economic ignorance now um if you if we move on to the next articles this one bernie sanders malls make billionaires pay act uh zones in on bezos musk and zuckerberg uh and when you go down to the bottom here uh it says that uh


while zuckerberg bezos and the waltons have yet to react musk took the challenge head musk took the challenge head-on with a meme every time the bernster mentions a free government program chug somebody else's beer the irrepressible billionaire tweeted back and so here's his tweet and i just think that uh you know elon musk often sticks his foot in his mouth he says things when he shouldn't he just doesn't seem to have those filters as far as uh being able to see the consequences of


what he says but he has a high level of belief in the in the things that he is doing uh they are the only kind they're the fastest growing car company on the planet well all the others are shrinking by the way and it's because it's a mission-driven company tesla only exists to accelerate the advent of sustainable energy on this planet that's the only reason it's all the other companies their mission the reason for their existence is to make a profit that's all uh so here is the bill and at the end of


the bill it says that uh you know he's demanding that billionaires pay their fair share of taxes what is your fair share this is a highly questionable thing there's different viewpoints on this now it could be a fixed percentage for everybody would be a fair share what people seem to think is fair what the majority wants because the majority actually does not fall that's the uh the majority is the middle class to the poor so the mean there is probably the bottom of the middle class and


people that are poor but not so poor so that's the mean so that's where the majority of votes come from and he's demanding that billionaires pay their fair share of taxes now we have a progressive tax system where the more you make the more you pay and then we've got all of these tax loopholes where the government tries to get uh punish people for doing certain things and encourage people for doing other things and when you can afford to pay somebody uh you know cpa firms a million dollars


a year or 10 million dollars a year to figure out your taxes and create loopholes and corporations and stuff you pay a lower rate so if uh if jeff bezos uh made 71 billion dollars he's probably going to pay only a billion dollars on that 71 billion dollars but what is your real fair share is life like an entrance to disneyland this is what the government spends on us so total government expenditures and it was uh 700 and it was about 7.5 billion and you take that figure and you divide it into uh 330 million


people and the government is spending about 22 thousand dollars per person before the crisis now they're spending uh almost uh 10 trillion so now they're spending 33 000 a piece on us roughly instead of 22 000 a piece so that means for a family of four they they're fair if you're standing it in the line at disneyland and you go oh i don't make as much as he does he'll pay and then he gets up oh i don't make as much as he does he'll pay and then the next person gets oh i don't


make up and then finally that billionaire gets to the front of the line and said and they hand him a bill i mean a family of four typically does not pay a hundred and thirty thousand dollars of income tax and that's the break-even point if they pay less than 130 000 of income tax this coming year they are receiving benefits taken from others this is just math and it's just the facts it's not me being a mean person by saying so it's taking these figures and dividing them into the population


and that's what you come away with is this coming year in order to cover what the government spends on us each of us has to cough up 33 000 in tax each i i pay a lot a lot more than that i'll tell you that i've paid for myself and many many many other people so i'm going to wrap up this video now and i want to wish all of you the best of luck during the economic crisis that is coming and uh and during this global health problem uh thank you very much for watching if you got anything from this please like


it share it give it that thumbs up subscribe to the channel and go to goldsilver.com and get my book thank you very much