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modrepub

(4,124 posts)
7. With A Grain of Salt
Sun Apr 16, 2023, 08:39 AM
Apr 2023

There's really no way of verifying this (unfortunately). I would like to hope this is true or a close proximity.

Elon would probably say he's a creature of capitalism but I think he's more of an example of the moral hazard of being infinitely rich. In a true capitalistic system, when a company is loosing money and is not profitable, it shrinks until it is profitable or it ceases to exist. The uber rich just pull resources from someplace else to keep something unprofitable going under the guise of being a "capitalist". This is more like a hobby. I think there are actually laws in place affecting hobby businesses but those probably only apply to small-scale entities. Would be nice if the tax code prevented the uber rich from using their hobby businesses as tax write offs.

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