Elon Musk is proof that Warren's "Wealth Tax" is a terrible idea)
Democratic candidates like Bernie Sanders and Elizabeth Warren have championed an idea so bad it was ditched by nine countries in Europe, including Denmark, and Sweden. Despite claiming to push "Scandinavian style Socialism," both candidates seem to be in favor of policies even those countries thought were terrible ideas.
Musk is a perfect example of the flawed ideology behind a wealth tax. Even though Musk is a "billionaire" worth $26.6 billion, Musk only has about $200 million in liquid assets.
How is it that there is such a large discrepancy between net worth, and liquid assets? Easy. Most of Musk's net worth is in his ownership of SpaceX, and Tesla Motors. By most, I mean 99.2% of his net worth, or roughly $26.4 billion.
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