Carlos Martinez20
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During the recent interview, Musk talked about the "billionaire tax" again.
He made it clear that even if all CEOs gave the government all of their money, it may not make a difference. Why? Because Musk believes the government wouldn't necessarily know how to spend it wisely, or at least not as wisely as some billionaires are already allocating it themselves.
First of all, I pay a lot of tax. My marginal tax rate is like 53%. That’s not trivial. Obviously, there’s asset-based taxes, the sales tax, and everything else. There’s also the estate tax. Generally, I think the estate tax is a good tax.
He added that when it comes to a ridiculous level of assets, to the point that there would never be any way to appropriately spend it all, there comes a point that the excess taxing is just simple "capital allocation." Musk continued:
It does not make sense to take the job of capital allocation away from people who demonstrate great skill in capital allocation, and give it to an entity that has demonstrated very poor skill in capital allocation, which is the government.
It's not the first time Musk slams on billionaire tax.![]()
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In October, he said taxing billionaires would only make a "small dent" toward paying off the U.S. national debt, arguing that the focus should be on government spending.
Read more: Elon Musk slams billionaire tax
Source: insideevs, WSJ
He made it clear that even if all CEOs gave the government all of their money, it may not make a difference. Why? Because Musk believes the government wouldn't necessarily know how to spend it wisely, or at least not as wisely as some billionaires are already allocating it themselves.
First of all, I pay a lot of tax. My marginal tax rate is like 53%. That’s not trivial. Obviously, there’s asset-based taxes, the sales tax, and everything else. There’s also the estate tax. Generally, I think the estate tax is a good tax.
He added that when it comes to a ridiculous level of assets, to the point that there would never be any way to appropriately spend it all, there comes a point that the excess taxing is just simple "capital allocation." Musk continued:
It does not make sense to take the job of capital allocation away from people who demonstrate great skill in capital allocation, and give it to an entity that has demonstrated very poor skill in capital allocation, which is the government.
It's not the first time Musk slams on billionaire tax.
Read more: Elon Musk slams billionaire tax
Source: insideevs, WSJ
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Carlos Martinez20
liked
$Dogecoin (DOGE.CC)$ has a millions-strong community. The meme coin’s Reddit page alone has a following of over 2.2 million. In terms of market capitalization, DOGE is now the eleventh-largest coin. It enjoys a market cap of $25.68 billion.
Money Spinner DOGE: Such is the appeal of DOGE that several companies have used it to market their wares. The maker of Slim Jim snacks $Conagra Brands (CAG.US)$ has used DOGE in its marketing blitz. This year, $Unilever (UL.US)$ launched a limited release of DogeCan, an Axe-branded deodorant. Slim Jim’s Twitter following exponentially thanks to DOGE-related memes.
Dallas Maverick’s now make “thousands and thousands of dollars'' in DOGE, as per Cuban. As per the entrepreneur, people prefer DOGE over $Bitcoin (BTC.CC)$ when buying Maverick’s tickets and merchandise.
Others that have embraced DOGE for payments include $AMC Entertainment (AMC.US)$ which takes DOGE through digital gift cards currently. The rollout of DOGE payments, bypassing the gift certificate route, is next on AMC’s schedule.
What’s Next For DOGE: DOGE is going to the moon, quite literally. Doge-funded DOGE-1 satellite, set to be launched next year by Musk’s SpaceX. The mission also has space art and space advertisement angles.
$Robinhood (HOOD.US)$ already has a 1.6 million waiting list for its cryptocurrency wallets which support DOGE, as per the company’s Cryptocurrency Chief Operating Officer Christine Brown. The platform is already Alpha testing the wallets that can be used to purchase, sell and send DOGE.
Last month, DOGE transaction fee was slashed by almost 10 times, which might lead to increased utility in the coming year for the meme coin.
Money Spinner DOGE: Such is the appeal of DOGE that several companies have used it to market their wares. The maker of Slim Jim snacks $Conagra Brands (CAG.US)$ has used DOGE in its marketing blitz. This year, $Unilever (UL.US)$ launched a limited release of DogeCan, an Axe-branded deodorant. Slim Jim’s Twitter following exponentially thanks to DOGE-related memes.
Dallas Maverick’s now make “thousands and thousands of dollars'' in DOGE, as per Cuban. As per the entrepreneur, people prefer DOGE over $Bitcoin (BTC.CC)$ when buying Maverick’s tickets and merchandise.
Others that have embraced DOGE for payments include $AMC Entertainment (AMC.US)$ which takes DOGE through digital gift cards currently. The rollout of DOGE payments, bypassing the gift certificate route, is next on AMC’s schedule.
What’s Next For DOGE: DOGE is going to the moon, quite literally. Doge-funded DOGE-1 satellite, set to be launched next year by Musk’s SpaceX. The mission also has space art and space advertisement angles.
$Robinhood (HOOD.US)$ already has a 1.6 million waiting list for its cryptocurrency wallets which support DOGE, as per the company’s Cryptocurrency Chief Operating Officer Christine Brown. The platform is already Alpha testing the wallets that can be used to purchase, sell and send DOGE.
Last month, DOGE transaction fee was slashed by almost 10 times, which might lead to increased utility in the coming year for the meme coin.
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Carlos Martinez20
commented on
Stock futures were flat in overnight trading on Monday after a rebound from a rollercoaster week as investors looked past the potential impact from the new omicron coronavirus variant.
Futures on the $Dow Jones Industrial Average (.DJI.US)$ rose just 15 points. $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ were both little changed.
The overnight session followed a comeback on Wall Street that saw the blue-chip Dow gain nearly 650 points. The S&P 500 jumped 1.1% on Monday with all 11 sectors registering gains. The Nasdaq Composite reversed higher to end the day up 0.9%. The rally was led by travel-related stocks such as airlines and cruise line operators.
$Norwegian Cruise (NCLH.US)$ $United Airlines (UAL.US)$ $Royal Caribbean (RCL.US)$ $Carnival (CCL.US)$ $American Airlines (AAL.US)$ $Moderna (MRNA.US)$ $Monolithic Power Systems (MPWR.US)$ $Pfizer (PFE.US)$ $Generac (GNRC.US)$ $Fortinet (FTNT.US)$
Futures on the $Dow Jones Industrial Average (.DJI.US)$ rose just 15 points. $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ were both little changed.
The overnight session followed a comeback on Wall Street that saw the blue-chip Dow gain nearly 650 points. The S&P 500 jumped 1.1% on Monday with all 11 sectors registering gains. The Nasdaq Composite reversed higher to end the day up 0.9%. The rally was led by travel-related stocks such as airlines and cruise line operators.
$Norwegian Cruise (NCLH.US)$ $United Airlines (UAL.US)$ $Royal Caribbean (RCL.US)$ $Carnival (CCL.US)$ $American Airlines (AAL.US)$ $Moderna (MRNA.US)$ $Monolithic Power Systems (MPWR.US)$ $Pfizer (PFE.US)$ $Generac (GNRC.US)$ $Fortinet (FTNT.US)$
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Carlos Martinez20
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The crypto market is down, but you can celebrate the dip in prices.Because the IRS classifies digital currencies like bitcoin as property, losses on crypto holdings are treated much differently than losses on stocks and mutual funds.With crypto tokens, wash sale rules don’t apply, meaning that you can sell your bitcoin and buy it right back.
This paves the way for tax-loss harvesting. The best thing do is sell at a loss and buy back bitcoin at a lower price. You can harvest an unlimited amount of losses and carry them forward into an unlimited number of tax years.
Quickly buying back the cryptos is another key part of the equation. If timed correctly, buying the dip enables investors to catch the ride back up, if the price of the digital coin rebounds. $Bitcoin (BTC.CC)$ $Bitcoin Cash (BCH.CC)$ $Ethereum (ETH.CC)$
This paves the way for tax-loss harvesting. The best thing do is sell at a loss and buy back bitcoin at a lower price. You can harvest an unlimited amount of losses and carry them forward into an unlimited number of tax years.
Quickly buying back the cryptos is another key part of the equation. If timed correctly, buying the dip enables investors to catch the ride back up, if the price of the digital coin rebounds. $Bitcoin (BTC.CC)$ $Bitcoin Cash (BCH.CC)$ $Ethereum (ETH.CC)$
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