Crony Capitalism and the Spigot of Government Subsidies

"I'm sorry Elon, but I can't let you do that."
“I’m sorry Elon, but I can’t let you do that.”


The SpaceX website says: “SpaceX designs, manufactures and launches advanced rockets and spacecraft. The company was founded in 2002 to revolutionize space technology, with the ultimate goal of enabling people to live on other planets.” U.S. taxpayers shouldn’t be on the hook for space travel and other ideas of private purpose that won’t benefit many, if any, taxpayers.

Musk is a billionaire many times over. If he thinks colonizing other planets is a profitable idea, then he should put up his own money. The taxpayers shouldn’t be forced along as passengers on his expensive and risky experiments.

Elon Musk made his fortune by inventing products commonly used by consumers every day. Now he has resorted to taking billions in government cash and subsidies to work on ideas that probably won’t return a profit to the taxpayer. He’s using his friendships in government, as well as some high-priced lobbyists, to keep the spigot of government money going his way. Though it has been profitable for him, Musk is a case study in cronyism and a shining example of a rich individual abusing his influence to make taxpayers pay for risky investments.

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