The post Is Elon Musk backing Trump’s economic policies solely for his personal interests? appeared on BitcoinEthereumNews.com.

The United States government barely avoided a shutdown yesterday, but the chaos wasn’t just politics as usual. At the center of it all was Elon Musk. The billionaire CEO of Tesla and SpaceX is now as much a political disruptor as he is a tech icon. His deep-pocketed support for President Donald Trump and his economic policies has turned him into an unelected power broker, and people are wondering: is this billionaire’s game about helping America or protecting his own empire at the expense of the economy? Elon has thrown a fat $277 million behind Trump and his Republican allies. $239 million of that was funneled through Elon’s America PAC, making him the largest donor of the 2024 election cycle. For a man who once claimed he wouldn’t support either candidate, Elon didn’t just flip, he went all in. By August, he was rallying voters at Trump campaign events, calling the election “the most important of your lifetime” and urging his hundreds of millions of followers to act. According to him, his breaking point was the Democrat-originating WOKE culture. Elon’s role in Trump’s economic revolution Trump’s economic policies are as divisive as his tweets, and Elon’s fingerprints are all over them. Let’s talk about tariffs. Trump wants to slap 10% to 20% import taxes to boost American manufacturing. He also wants to hit BRICS countries with 100% tariffs if they dare abandon the US dollar. Sounds patriotic, right? Well economists are not impressed. They predict that these tariffs will drive up consumer prices without creating the jobs Trump promises. Then there’s the immigration plan: mass deportation. Trump wants millions of undocumented immigrants out. Critics say this will cause labor shortages in critical industries like agriculture and construction, where immigrants are the backbone. And here’s where Elon officially steps into the…

---

Filed under: News - @ December 22, 2024 10:27 am