Elon Musk’s Billionaire Games - Between the Scenes | The Daily Show

Trevor Noah doesn’t know anything about

Well that’s what market is. buyer wants to take risk and seller wants to take advantage. Buyer thinks best case scenario is i will own tesla and worst case scenario i will earn interest on the loan amount.

This is an incredibly ignorant take

Shares are like land. Imagine someone saying that land owners should be taxed because they own the land (even if it is not being used). Taxes are on earnings. They are on net profits, and that's why there are allowable deductibles from income like expenses, etc.

So, earnings from shares such as dividends are taxed. This would be an equivalent of say rental tax for land owners.

And at the point of sale of shares, you are taxed.

Shares, just like land, can be used as collateral.

So, no, people shouldn't be taxed just because they own shares, and yes, they can still be used as collateral.

rich or potentially rich are treated like they better customers by money making organization with zero insetive of social gain

Bank is taking huge risk if tomorrow tesla flop and elon default bank is at rick more then elon but who bank give loan to is up to bank

Take this scenario, i have gold that i bought from my life saving i earn like 5-10% of it per year

Now gold price surge to 4/3 to 5/3 time the original

But i dont want to sell my gold now it my nest egg for rainy day

But i still have to pay minimum 20% (or 2-4 time my annual salary) anyway
So i am forced to sell my gold

Now gold goes up 2 time original not only i dent my nest egg i am at loss(of potential income)now while rich people with enough money could have brought more gold rather then sell there gold to pay tax

U are confusing social capitalism bad aspect (nepotism) with tax law ,

You're right Trevor, you're not an economist....but you dont have to be an economist to understand how collateral works.

This quite simply shows you have 0 understanding , and anyone who laughs along doesn't understand either. Educate yourself otherwise you're a literal definition of a laughing buffoon

But that also means you will block out middle class from accessing morgages if you ban borrowing against an asset. So basically a stunted economy. Try that then you'll see how much taxes you collect.

If I own a car I can get a loan and use my car as collateral. But you cannot tax me for simply owning the car.

Don’t hate the player hate the game!

He was right when he said he doesn't understand finances. Let me give you an example. You have a house you bought for $500,000 and 3 years later its value is $800,000 . Now, will you pay tax on $300,000 the value increased. You don't have the money until you sell it. But hey, you want a loan, and you have an asset worth $800,000, do you want to keep it as a collateral to get a loan, Yes you can. I repeat He is right when he said he doesn't understand finances but he presents it in a way that other people who doesn't understand it will think he is right

Because you only tax money making, so having actions is not taxable. Until Elon withdraws that money, he hasn't made a dime, and, as you said, actions can drop. SO, what's so hard to understand? By taking a debt with Tesla as collateral he is risking a lot, because if Tesla goes down, probably the banks will ask him to give another collateral or refinance his debt, etc... And they could take Twiter from him. Don't blame Elon, blame banks if you wish. Banks have perverse ways of making money without risking anything... Musk here is a brave entrepreneur, if anything.

Offshore tax havens and trusts are also a lot of fun. I agree, it's so strange that we now depend of late night comedians like Noah, John Oliver, Jon Stewart, Seth Meyers to understand this upside down Wonderland we are expected to live in without ever shouting "off with their billion dollar heads!"

There is nothing weird about it. You can't be taxed on unrealised gains, whether it's stocks or a piece of land you own. Both can be pledged to secure a loan. Value of both can go up and down according to market forces.

Trevor, you just don't understand basic economic concepts. Go to school, then comment. You're making a fool of yourself.

Welcome to the land of scam

Well said.

The banks would love if asset appreciation were to be taxed. They would give a loan to the taxpayer to pay for taxes in one year and then a loan to the government (Treasury bills) to refund the taxpayer the following year when asset prices decline. A lot of money sloshing around earning interest for the banks. Completely useless. Trevor should have run this by any half competent finance professional before commenting on it.

ELON MUSK NEEDS TO KNOW THAT THE DECLING BIRTH RATES IS FOR REASON AND IS RETRIBUTION FOR WHAT FAKE MARRIED PEOPLE DID NOT WERE GOING TO GET RETRIBUTED CUZ WE DIDNT PLAY ALONG WITH THE RICH WHITE PEOPLE SCAME!!!!!!

Aren't we missing something obvious? Wouldn't the same reasoning apply to homes, real estate, jewellery, art and other assets? Should they be taxed on unrealized gains? Or not be allowable as collateral for loans? Sometimes, things seem unfair just because the numbers are bigger.

A sure fire way to announce to the world you are an idiot. use the word "like" 25 times when trying to describe something.

It's gambling. The house always wins.

Elon musk is everybody's favourite joker.

What Trevor says is real

The wealthiest of the wealthy gain when the market crashes…the small investor loses.

Stock market: It's a man-made scheme to get rich fast with other people's money, it's the definition of scam. Lol

That is with some investments. You don't taxes until you actually use the money. It is a thing. It is not earned money so can't get taxed, but as soon as you use it you're taxed. He is putting it up for collateral like you would you home. When you have a mortgage you have the home but you don't own it yet, but people put something they don't own yet for collateral. They use that same thing with bondsmen.

It's like when you take a mortgage out on your house. Your house isn't money, it's an asset. The asset does have monetary value that it's worth over time.

Brilliant!

A comedian who´s speaking the truth. Real journalism.

Like he said he is not an economist.

It’s American Congress who makes the taxation rules. Guess who they’re working for 🤔🤔🤔

You nailed it. It’s all a scam. It’s a broken market.

Intelligent thinking ... my main man Trevor - mwana wa Afrika Borwa

The money is loaned.. not sure what's hard to understand.

Some are more Equal than others

Taxing unrealized gains might sound like a great idea in theory, but there are a lot of practical problems to it. Just imagine for a moment if the taxman assessed you every year based on any increase in the value of your house. Can you see any potential problems that might crop up?

Have everything, can get everything but not have for giving away.........TAX👍🏼 super

whilst it seems that he is making a logical argument, he's not as it's all about RISK - and if the party accepting an unrealized gain as collateral is willing and has the appetite to take on that risk of the value of those shares losing value there is no contention. "The rich" do this because they can afford to and perhaps, they are rich because they took on those risks. Taxation is not a factor in any equation regarding this. Transactional integrity however is a valid charge, which is why the SEC keeps oversight on these matters...

and that's one of the reasons why US and other countries experiencing recession right now or will experience recession..

its because of these rich mans game, we peasants are just measly observers, not even a part of that, we are just slaves working for that promise of retirement

Totally agree Trevor's comments. Billionaires are not supposed to be loaned by unrealized shares.

I think if Trevor thinks about it as an Asset like a house, it would be easier to comprehend it. House value can go up an down too (I know not as drastic as a stock) but you can take a loan against your house without selling the house and use it to buy things. So stocks is just the same. I can buy a house for $100K 20 years ago and if it's value is $1m today, I can take a higher loan out. If you are ok with house being a collateral, you should be ok with stock too. Maybe a smaller % vs a house due to it being more volatile but it's ok to do so.

Trevor.. the word is LEND... not "borrow"

WALL STREET IS A SCAM

i learned this when trying to figure out how dump trump continues to claim having millions = he only does on paper....but that's just bragging rights...kinda like toilet paper donald = use it once....than throw it away...the rest of us have to put up or shut up...does that sound right/fair!?!!

That's it! I'm voting for Trevor

Yup. Wealth tax people… its the only way to tax those hordes of billionaire wealth

Well you got me. By all accounts it doesn't make sense.