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waterwatcher123

(446 posts)
Thu Nov 7, 2024, 12:45 PM Nov 2024

Economic Power is One Way to Fight Back

Eloon Musk was one of the principle financial backers and looks to play a key role in Trump's resurrection. As the richest man on the planet, he now wants everyone else to plan for austerity because he is going to cut every federal program he deems unnecessary (like Social Security and Medicare). I would like to suggest we collectively fight back by taking steps to seriously impact this man's wealth and power. His primary source of wealth is Tesla stock, which has soared in value in recent years. If you have any Tesla stock or a mutual fund that invests in Tesla, seriously consider selling it now. Another thing we can do is to stop buying his cars. Democrats are one of the primary buyers of Tesla cars for obvious reasons. However, there are lots of alternatives available that do not enrich megalomaniacs. Getting rid of your existing car would also drive down the value of new cars and the stock by flooding the market with used vehicles. Secondly, if you have any option, get rid of your Starlink internet service now. This man cannot be trusted with any of your data and will pass it on to the new Republican Gestapo.

My guess is that Eloon will be involved in the federal procurement process that results in our tax money being used to buy his vehicles and to enrich him. Usually, the government must go through a bidding process when it purchases equipment or fleets of cars and trucks. In the past, nefarious people within the G.W. Bush administration got around the bidding process by offering no bid contracts to companies like Haliburton (Vice President Dick Cheney's friends). These "sole source" contracts made Haliburton and others like them billions of dollars by fleecing the American treasury through excessive costs and mismanagement. We need to intercede in this effort this time to stop this fleecing of America and force these vulture capitalists to play by the same rules as everyone else. Does anyone here know how to get registered in the federal procurement process so we can expose this corruption and frustrate their efforts? The federal government uses Grants.gov for federal grants. This is another place where corruption can go on unchecked if they are gaming the federal government to reward their cronies. There is a process to dispute these awards if it looks like they issued based on favoritism or connections.

Economic power can be a highly effective tool coupled with political action. So, consider using your power to stop these Trump con men from destroying the country and enriching themselves. Use your personal power to boycott certain services and products. We can use our collective power to stop and expose the worst abuses in the federal procurement and grants programs. This abuse must be exposed, or they will get away with their corruption (one of the main reasons they pursue power).

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spooky3

(38,223 posts)
1. I would really like for Mark Cuban to form a group of like-minded wealthy folks
Thu Nov 7, 2024, 12:55 PM
Nov 2024

to strategize about how to improve voters' economic understanding, and ultimately to help them make more informed voting choices in the next election. I don't have any hope of persuading extreme racists and misogynists, though I do think more intervention with younger male and female voters can have an impact.

BlueKota

(5,034 posts)
2. My sister recently found out her
Thu Nov 7, 2024, 12:57 PM
Nov 2024

financial adviser had invested some of her funds in Tesla. She told him to sell. He said she would take a loss, but she told him her values were more important.

We get on each other's nerves a lot, and disagree on a number of things, but our disgust with assholes like Trump and Musk is totally in sync. I really do love and admire that woman.

marybourg

(13,588 posts)
3. The S&P 500 and Total Stock Market index funds
Thu Nov 7, 2024, 12:58 PM
Nov 2024

contain the market weight of Tesla. Since these are the gold standards of mutual funds, and since selling them may involve paying capital gains taxes, most people will not be divesting themselves of Tesla stock.

waterwatcher123

(446 posts)
7. Good point - my wife wrote the little blurb below (she is a CPA and has an MBT).
Thu Nov 7, 2024, 03:47 PM
Nov 2024

You don't have to keep Tesla stock outside of your mutual funds. If its in a retirement account, there is no tax impact until you take a distribution.

Response to waterwatcher123 (Original post)

roamer65

(37,813 posts)
8. I vaporized $2k worth of appliance purchases.
Thu Nov 7, 2024, 04:05 PM
Nov 2024

Was waiting till after the election to make the decision.

Poof! Gone.

Next up complete credit card debt elimination by Jan 20th.

Response to waterwatcher123 (Original post)

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