[Rebelgecko]

>Do you think it's okay that the mega rich are incentivized to continue to get richer and richer while receiving the massively preferential loans and tax rates they get?

I don't think the loan and tax rates are particularly preferential.

Thanks to his twitter deal, he's had to publicize some info about how he gets his money. The interest rates on his loans range from SOFR+3% to SOFR+10%. Those rates aren't that low— even as a non-millionaire I could get similar ones from my bank (https://www.schwab.com/pledged-asset-line).

I pay 2.75% interest on my mortgage. So even Elon's best loan has an interest rate well above my mortgage. By the end of the year, his interest rate is on track to be around 3x higher than my mortgage! And like my mortgage, his loan has a large upfront payment and a minimum amount that must be repaid every year, it's not free money forever.

My effective federal tax rate is 20%. That's lower than the rate that a typical billionaire would pay on capital gains (23.8%).