First up, just to get a concept of how much he’s paying.
$20,928 a minute
1.25 million an hour
30 million a day
210 million a week
843 million a month
And just for a comparison, the average American will pay $525,000 over their life on taxes.
Elon Musk will pay that every 25 minutes.
He will also pay the lifetime taxes of 20,952 people.
After that, the average income tax payment is $15,322 a year.
Musk will pay what 717,921 people combined will pay this year.
Also, to create a concept of how much of the federal government this will pay for.
The federal government spent 6.7 trillion this year and held a 2.7 trillion dollar deficit.
That’s high due to COVID, so I’m going to normalize and compare to the 2019 budget.
The budget was 4.4 trillion.
Revenue was 3.6 trillion.
Deficit of 800 billion.
Elon Musk as one man is .25% of the federal budget and one in every $400 spent.
Elon is .30% of all revenue collected and $1 of every $300 spent.
Deficit wise, his tax earnings reduce the deficit 1.4%.
On the employee side, the average federal worker makes $54,000 a year.
This will cover 201,000 salaries.
As a piece of the budget compared to expenditures.
Elon is 51% of NASA’s 2019 budget.
36% of the department of energy.
18% of the department of transportation.
1.6% of the military.
Looking at all this, be it Elon selling Tesla stock for contractual reasons, the hope of running from a stock crash or being insane on twitter, this is a breakdown of the 11 billion paid.
And what I’m bothered by is a lot of people wish it was more money.
Elon created Zip2 in the 90s, which helped small businesses get active online.
Elon created PayPal, that made mobile payments easier and did hurt big banks.
He created Tesla, which has done more for the environment over any government effort.
SpaceX, which has saved the government billions on NASA contracts and will help the world with Starlink.
I am 100% confident Tesla stock eventually crashes, especially with the electric cars coming out in 2022, but also 100% confident I’d rather see Elon with 11 billion over the federal government.
This isn’t some rogue anti tax thing, but with 4.4 trillion in scheduled spending and 3.6 trillion in revenue, this idea of people complaining 11 billion wasn’t enough money, because they can’t get it right with 3.6 trillion in revenue is a little nuts.