Businessman Elon Musk became the world’s first trillionaire last Friday, after his company SpaceX raised $75 billion through an initial public offering on Nasdaq, a price that placed SpaceX’s valuation at $2.1 trillion. The IPO also made millionaires of over 4,000 current and former SpaceX employees, facts which most Americans celebrated.But not Democrats. Sen. Elizabeth Warren (D-MA) said the moment “needs to be a wake-up call,” claiming that Musk’s wealth is “a feature of a rigged economy.” Maine Senate candidate Graham Platner went even further, posting on social media that, “Elon Musk just became the world’s first trillionaire. Let’s make sure he’s also the last.”
“Republicans believe that if you let the wealthy spend capital it will make Americans prosperous,” Khanna posted. “Democrats believe that the federal government investing in the healthcare & education of our people will make America prosperous & productive.”
All of these Democrats support a wealth tax like the one unions are trying to place on California’s ballot this year. But unlike California’s supposedly one-time tax, Warren and Khanna support an annual taking of people’s wealth, which they justify by claiming current arrangements are rigged for the rich.
