(PatriotWise.com)- In remarks during the Wall Street Journal’s CEO Council Summit, Tesla CEO Elon Musk argued that the “government is simply the biggest corporation with a monopoly on violence.”
Musk voiced his opposition to Biden’s massive “Build Back Better” bill and urged the Senate not to pass it. He slammed President Biden’s domestic agenda in general, arguing that it doesn’t make sense to take capital allocation out of the hands of the people who know how to do it and put it into the hands of the government, which, Musk said, “has demonstrated very poor skill in capital allocation.”
NOW – Elon Musk: "The government is simply the biggest corporation, with the monopoly on violence."pic.twitter.com/lFE09fIOUY
— Disclose.tv (@disclosetv) December 7, 2021
Musk also dismissed as unnecessary Biden’s plan for increasing tax credits for electric vehicles and building charging stations.
The Tesla CEO also had harsh words for President Biden’s approach to China, saying there are a lot of people who don’t appreciate that China has become “the big kid on the block.”
Not only is government the biggest corporation, but it is also a corporation without competition, and its monopoly isn’t just on violence.
Private sector businesses have to compete with each other – for customers, for employees, for market share. When the government decides to meddle in the economy, it has no competition.
When the federal unemployment subsidies incentivized the employed to stay home rather than work, President Biden argued that if businesses want those workers to stop taking federal funds and go back to work, they could always match the “pay” the government is providing.
But this is an uneven playing field. The government doesn’t worry about budgets, affording payroll, or any of the things private businesses do. So expecting businesses to compete with the Federal government and match what unemployed people make through government welfare is completely unrealistic.
In an op-ed at Fox Business last May, former investment banker Carol Roth explained that any increase in wages needs to take into account both the market and general economics. Businesses shouldn’t be forced to compete with a government that can offer trillions of dollars in welfare without worrying about staying within its means.
Roth argued that forcing businesses to compete with the government for workers would further disrupt the economy, killing opportunity and economic freedom.
Read Roth’s column HERE.