Taxpayers also heavily bankroll Musk’s businesses. Last year, the Los Angeles Times reported that Musk’s corporate empire had received a total of $4.9 billion in government subsidies.
For example, the federal government gives each Tesla buyer a $7,500 tax credit. Many states give additional credits as well.
So, yes, Musk has made billions of dollars because taxpayers are subsidizing the purchase of $85,000 dollar sports cars and costly solar panels. I doubt that will sit well with working-class voters.
The only reason Tesla was profitable last quarter stems from the sale of $139 million dollars worth of “clean” tax credits to companies that make money from the sale of traditional, gas-burning cars and trucks.
Undoubtedly, Donald Trump is also a product of coastal elitism. However, Trump was able to overcome this hurdle with working-class voters by channeling their frustrations with elites.
Democrats hoping that Musk will be their billion