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Brad Gerstner: Taxing Elon Musk at 100 percent on PayPal gains could have prevented Tesla and SpaceX
Brad Gerstner proposes a hypothetical scenario in which Bernie Sanders had imposed a 100 percent tax on Elon Musk's PayPal capital gains. Gerstner suggests this would have meant no Tesla and no SpaceX, resulting in a loss of associated jobs and gross domestic product for the U.S.
He emphasizes that Musk is already expected to pay over $100 billion in taxes, which Gerstner contends is more than most individuals. The comments challenge the idea that higher capital gains taxes always serve society's best interests.
Gerstner has previously advocated for direct investment opportunities for young Americans. He revealed plans for America 250, offering free lifetime investment accounts to every U.S. child under 18 as a new initiative announced earlier this year. During the NBA Finals, he also promoted an app enabling children under 10 to earn $250 to $1,000 in company ownership through the TrumpAccounts platform.
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