Musk

Elon Musk is selling stock to pay taxes. He is also selling stock to invest in his space program Space X. This is a new business but already employs 10,000 highly paid high tech types. He hires mostly engineers and their average salary is $100,000. This is one billion dollars in salaries and these people will pay $250,000,000 in taxes each year. Musk moved his business from California to Texas where there is no state tax. California has a 12.3% state income tax. On the $8.8 billion that Musk sold to pay federal income tax, California lost $2 billion in state tax. Instead of using these tax dollars to invest in new business adventures the government will be using this money to provide benefits to people and many of these people will vote for their benefactors.