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Elon Musk Opposes US Govt's Stimulus Package, Says 'it Is Not In Best Interests Of People'

Tech Billionaire Elon Musk argued another government stimulus package, designed to help pad an economic decline of US, is not in the best interests of people.

Elon Musk

While people are intently following movements of the next stimulus package to aid the ailing economy of the United States, Tech Billionaire Elon Musk has argued that "another government stimulus package is not in the best interests of the people" claiming that it has 'special interests'. The criticisms by the SpaceX and Tesla CEO seemingly comes as the Senate plans to roll out its proposal for the next stimulus package. Instead, Elon Musk said he would like to see only direct payments included in a new relief bill.

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Elon's tweets opposing the package:

Although he criticised the stimulus package, saying that the package was more beneficial to a select few, he said he supported the concept of universal basic income adding that the goal of government should be to maximize the happiness of the people.

 

He also slammed the government for the economic package and alleged that the packages come with vested interests.

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US government's second economic stimulus

However, Senate Majority Leader Mitch McConnell ratified that the US Government is indeed planning to make direct transfers to the people. "Republicans want to send a second round of direct payments to American households," McConnell wrote in a press note on Thursday.

Named as CARES 2, the economic rescue package proposes $3 trillion worth of economic support for individuals and businesses struggling with the US recession fueled by a continued rise in the COVID-19 cases. The package aims at sending direct payments to people in August to mitigate their personal and financial needs.

Some of the Twitter users slammed the tech billionaire as his car manufacturing company Tesla Motors was a major beneficiary of government stimulus in the wake of the last global financial crisis. The company had received $465 million federal loans to design electric vehicles and manufacture them in California. 

A user said, "Tesla literally just received a $15 million subsidy to build a new factory in Austin."

While others in favour of Musk justified his statements by saying that the economic stimulus worked in the special interest of select few than people at large

 

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