Elon Musk Slams Trump's "Grotesque Monstrosity" Tax and Spending Plan
Musk is fiercely criticizing Trump's "Big Beautiful Tax Plan"
Let's cut to the chase, shall we? Elon Musk, tech mogul extraordinaire, recently unleashed a scathing attack on Donald Trump's proposed tax and spending bill, deeming it a "grotesque monstrosity." Here's the lowdown.
Just a few days after bidding adieu to the White House, Musk took Trump's flagship project for a spin and came back less than thrilled. He attacked the tax and spending bill pushed by Trump as a financial disaster waiting to happen. According to Musk, the plans would push the already towering budget deficit and national debt to unprecedented heights, potentially exceeding a staggering $2.5 trillion. For context, the deficit stood at around $1.8 trillion in 2024.
Touted by Trump as the "big beautiful bill," the legislation slipped past the House of Representatives in May, making it the first congressional chamber to approve it. However, the road ahead is rocky, with several members of Trump's Republican Party in the Senate voicing their opposition to the proposed increase in the debt ceiling and demanding bigger spending cuts.
The White House plays it cool
The White House responded with a casual shrug, much like Donald Duck passing a made-up high score in a video game. "The president already knows what Elon Musk thinks of this bill," said White House press secretary Karoline Leavitt matter-of-factly. Trump remains steadfast in his support of the bill.
Now for some politics: The proposed bill includes the permanent extension of tax cuts from Trump's first term. This is supposed to be balanced out by cuts to social benefits, a proposal that faces fierce opposition from the Democrats.
Musk's critics join the choir
Interestingly, Democratic Senator Bernie Sanders sympathized with Musk's criticisms, writing on his platform, "Musk is right." Sanders pointed out that the richest Americans would receive a staggering $664 million in tax cuts, while slashing $290 million from food assistance for the needy.
Musk had been more diplomatic in his criticisms until recently. Despite expressing disappointment over the committee's lack of support for his proposed cuts to government spending, he also shared his unease about criticizing the government and supporting each of its decisions. Undeterred, he declared, "I'm sorry, but I can't take it anymore."
The rocky road ahead
Despite his withdraw from Washington, Musk's influence within Trump's circle has been dwindling. Reportedly, Musk had parted ways with Trump after hitting the 130-day annual cap for external government appointments. However, recent months have shown signs of a weakened connection between the two.
- Elon Musk
- Donald Trump
- Tax Revenue
- Tax Policy
- Tax Cuts
- Tax Reform
- Tax Waste
- Budget Policy
- Austerity
- Bernie Sanders
- USA
Sources: ntv.de, as/dpa
- Elon Musk, despite his distance from Washington, continues to voice concerns about Donald Trump's proposed tax and spending bill, particularly the permanent extension of tax cuts from Trump's first term, which risks exacerbating the budget deficit and national debt.
- The debate over the tax and spending bill is far from over, with Republicans in the Senate opposing the proposed increase in the debt ceiling and demanding spending cuts. Meanwhile, Democratic Senator Bernie Sanders has expressed agreement with Musk's criticisms, pointing out the disproportionate tax benefits for the wealthy and the potential cuts to social benefits.
