Nassim Taleb backs Elon Musk's fight against 'Big Beautiful Bill'

Tesla CEO Elon Musk and former DOGE head has launched a campaign against President Donald Trump's "Big, Beautiful Bill," a sweeping tax and spending bill. Nassim Taleb, author of "Black Swan," has supported Musk's stance on social media, urging others to do the same. The bill could add over $5 trillion to the national debt by 2034, according to the Congressional Budget Office.

Tesla CEO Elon Musk has publicly criticized President Donald Trump's sweeping tax and spending bill, known as the "Big Beautiful Bill." Musk's stance has drawn support from Nassim Taleb, author of "Black Swan," who has urged others to align with Musk's position on social media. The bill, if passed as is, could add over $5 trillion to the national debt by 2034, according to the Congressional Budget Office [3].

Musk's discontent stems from several key points. First, the bill aims to eliminate federal electric vehicle (EV) tax credits, which have been a critical incentive for EV adoption and Tesla's sales [1]. Musk has been vocal in his criticism, calling the bill "a disgusting abomination" and accusing GOP lawmakers of abandoning fiscal responsibility [2]. The proposed elimination of these credits could represent a $1.2 billion headwind for Tesla, a significant blow as the company battles slumping demand and political backlash [1].

Second, Musk's discontent escalated after Trump withdrew the nomination of private astronaut and his ally Jared Isaacman as NASA Administrator. Isaacman, who had broad support in the space community, was seen as Musk's pick to align NASA policy with SpaceX's interests [1]. Musk's removal from his role as a "special government employee" running the Department of Government Efficiency (DOGE) also added to his frustration [1].

Musk's reputation has been bruised amid the fallout from his role in federal governance and the bill's potential impact on Tesla. The political backlash has led to protests, online campaigns, and lawsuits, as well as a string of death threats and acts of violence targeting both Musk and Tesla facilities [1]. Tesla vehicle sales have plummeted, shares have fallen 50% from record highs, and Musk's net worth has dropped by $100 billion [1].

The bill's potential impact on the national debt has raised concerns among investors and financial professionals. The Congressional Budget Office estimates that the bill could add over $3.8 trillion to federal debts, which already exceed $36 trillion [3]. The non-partisan budget office also projects that by 2034, the bill would increase debt by nearly $3 trillion, or roughly $5 trillion if made permanent [3].

Musk's campaign against the bill reflects a growing rift between the two figures, who were once close allies. As the bill moves through the Senate, Musk's vocal opposition and Taleb's support have added to the debate over the bill's impact on the U.S. economy and national debt.

References:

[1] https://www.livemint.com/news/why-elon-musk-turned-against-donald-trump-and-his-one-big-beautiful-bill-here-are-the-5-reasons-11749051430652.html
[2] https://www.marketscreener.com/quote/stock/TESLA-INC-6344549/news/Elon-Musk-calls-Trump-s-tax-bill-a-disgusting-abomination-50149514/
[3] https://www.crfb.org/blogs/cbo-estimates-3-trillion-debt-house-passed-obbba