Elon Musk Says No to More Stimulus, House Committee Claps Back
Elon Musk speaks his mind about the heated debate on a second stimulus check through a series of tweets to his 37 million followers on Friday.
For the billionaire, a new government stimulus package for the unemployed is "not in the best interest of people." Musk said he was in favor of universal basic income.
Musk suggested that, in place of a second stimulus, economic efforts can "just be direct payments to consumers," something that is likely to happen, according to Business Insider.
"Giving each person money allows them to decide what meets their needs, rather than the blunt tool of legislation, which creates self-serving special interests," he said in a separate tweet.
Musk emphasized that the goal of government is to "maximize the happiness of the people". He said the legislation is "jammed to gills" with signs of special interests.
Over 80% of businesses that had PPP loans will most likely run out of funds by early August and could lead to a surge in the now 11% unemployment rate. Some industries also had special grants and loans but may lay off workers.
This is what Business Insider believed to be the source of Musk's criticism of special interest.
His comments came as the U.S. saw a surge in coronavirus cases and record levels of unemployement. As of Friday, the U.S. topped the record numbers of other countries when it comes to coronavirus deaths by 144,000.
The Tesla CEO is responsible for is responsible for tens and thousands of paychecks to workers.
Musk's Businesses Took Millions in Government Subsidy
In recent months, Musk has used his platform in sharing false or speculative information about the virus.
Observer pointed out that, in the early days of the pandemic, Musk gave a wrong prediction that the U.S. would be virus-free by the end of April. But given his big audience, the information is likely to be absorbed by people.
Unsurprisingly, Musk's tweets drew instant controversy on Twitter.
Some praised him for his sentiments while many noted that Musk's own business empire took billions of dollars in subsidy. They said his comments were ironic.
Tesla's stock also soared during the pandemic, making Musk earn a massive fortune.
To add to that, there is likely to be a good 44,000 of his employees who benefitted from the unemployment bonuses and the previous $1,200 stimulus. That is because thousands of workers from the company fall within below their $58,000 median salary.
When the company opened against state orders, their human resources department told workers that they will not be required or forced to come to work but they may lose benefits. When they resumed production, several workers got sick.
House Committee Shot Back
The House Ways and Means Committee took notice of Musk's comments on the stimulus and decided to clap back, reported The Hill. The committee responded with a popular meme format that reads: "Thanks Billionaire, your opinion is noted."
Senate Republicans have been focusing mainly on a new stimulus package since they returned to session this week, but Senate Majority Leader said on Thursday that the bill will not be introduced until next week.
They are seeking more time to review the "fine details" of the proposal. McConnell said the Senate has come to an agreement "in principle on the shape of this package."
Want to read more on the second stimulus? Check these out!
New Stimulus Check: Mnuchin Says $1,200 Direct Payment May Be Sent To Same People
New Relief Bill May Include Jobs, Stipends, and Educational Grants
Second Stimulus Check: What Should Americans Expect Following Trump Negotiations?
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