Elon Musk’s Billionaire Games - Between the Scenes | The Daily Show

Trevor’s no finance expert, but the details of Elon Musk’s Twitter buy seem a little weird. #BetweenTheScenes #DailyShow
Subscribe to The Daily Show:
/ @thedailyshow
Follow The Daily Show:
Twitter: / thedailyshow
Facebook: / thedailyshow
Instagram: / thedailyshow
Stream full episodes of The Daily Show on Paramount+: www.paramountplus.com/?ftag=PP...
Follow Comedy Central:
Twitter: / comedycentral
Facebook: / comedycentral
Instagram: / comedycentral
About The Daily Show:
Trevor Noah and The Daily Show correspondents tackle the biggest stories in news, politics and pop culture.
The Daily Show with Trevor Noah airs weeknights at 11/10c on Comedy Central.

[@rationallion9438]

As an outsider, Trevor does a great job exposing the lack of rational for many ingrained American myths.

[@chrisk6668]

Like equity? Lol. He's funny sometimes but most people understand how this works.

[@Kikongolessons]

Sure !

[@BahamutEx]

Stock markets aren't only american. And billionaires try to evade taxes around the world.

[@ChineduOpara]

@@chrisk6668 "Most", buddy? LOL

[@chrisk6668]

@@ChineduOpara yeah, everyone that owns a house or has a mortgage or has taken a high school level accounting class. Most people know it because it's basic. Judging from comments on this video maybe not his fans but they're a pretty small group of people.

[@antonomaseapophasis5142]

Trevor left out that extravagant lifestyles of billionaires is also paid with loans against the $billions which they have, but don't have for the purposes of paying taxes.

[@Davi-rx]

Billionaires will always find a way to dodge taxes.

[@DrWisdomForPresident]

Stock Market Slick Scammy way. You got it bro Bingo👍. Understanding the U S TAX code and taking advantage of the U S TAX code why the rich get richer. NOT Understanding the U S TAX code and not taking advantage of the U S TAX code is why the poor get poorer and the poor pay 100 more TAXES than The Rich who no pay TAXES at All. The poor live in fear of I R S while the Rich has no FEAR of I R S, because the Rich go by the TAX CODE.

[@beachcrow]

Musk paid *$11 Billion in taxes* for 2021. He's a science nerd, not a party guy. Owns no houses or yachts, he's excited about factories and spaceships.

[@omogenews]

TRUTHkzbin.info/www/bejne/nobCfXd_rcqSotk

[@JermaineGertse]

I didn't get 95% of the jokes... still watched though

[@MatthewMe]

The same idea with property taxes. My house goes up in value from $200k to $400k, and they get to tax me at the higher rate, even though I don't have the money from the movement in the market. And when it goes back down in a crash 3 years later, I don't get that tax money back. I never realize any profit in the middle, but they got to take a larger chunk from me. But try to do the same with billionaire shareholders, and they "don't have liquid assets" to pay.

[@RevoltBlackOps]

Sure but why sit with over 200k in excess equity in your house? Get a HELOC or some other loan against your house to pull that equity out and invest it in something. The property tax is small in comparison to the returns you can get from that equity

[@arthuratlas2166]

@@RevoltBlackOps Yeah, but why do I have to? can't I just enjoy my house?

[@tl6359]

@@arthuratlas2166 Unfortunately according to tax laws u can't

[@PraveshKumar-qf5me]

What only property tax? No tax on the unrealise gains of $200k. What he is suggesting is that you should be taxed on your unrealised profits of $200k also. Because you can also take loan against this gain of $200k to fund your other investments or expenses. Sounds reasonable?

[@kabeloignatiusmosala9769]

Would this be different if the house is registered under a company?

[@tonytooshort]

Man I love all these guys. All these guys who were supposedly *just* comedians but have really become our ONLY truth tellers.. shout out to you guys! 🙏🏽👏🏽

[@cksonnny]

I was just thinking that!

[@anemicsilence]

👍👍👍

[@roundtwo3321]

That's what court jesters used to do.

[@vjh4584]

He was right when he said he doesn't understand finances. Let me give you an example. You have a house you bought for $500,000 and 3 years later its value is $800,000 . Now, will you pay tax on $300,000 the value increased. You don't have the money until you sell it. But hey, you want a loan, and you have an asset worth $800,000, do you want to keep it as a collateral to get a loan, Yes you can. I repeat He is right when he said he doesn't understand finances but he presents it in a way that other people who doesn't understand it will think he is right

[@30minutesLess]

Like Russel brand lol

[@Cookefan59]

Such a brilliant young man! He just broke it down so eloquently and clearly that even a fool could see the games that are being played at the highest echelons of economics.

[@Kikongolessons]

Right !

[@svenjorgensenn8418]

Trevor Noah is paid off by the guys he is talking about....

[@MultiYlin]

please differentiate between assets and liability. Elon's wealth is based on the speculation of his holding in Tesla: he has no financial gain into his bank account balance rather it is a number change on the company's book. And buying with collateral is actually very risky since that it is the same as speculation on future market. The collateral needs to be topped if there is a significant drop in Tesla's stock price (aka leverage). So Pelosi might be richer than Elon since her holding is pure cash investment rather than Elon's number. And people hate the rich for holding fabulous assets but truth to be told: any 5+ million dollar assets around the world can be cut in half if they need the cash in desperation (yeah, it can not be found in the high street...rich people usually refinanced by their peer...think this way having 10M+ USD cashable assets at any given time) and that is part of the reason why Russian Oligarchs hold a significant amount of assets in yachts. It is emergency stash of cash for refinancing.

[@thehorde4868]

Yeah, they're the blind leading the blind. He doesn't even know the basics of it

[@vjh4584]

He was right when he said he doesn't understand finances. Let me give you an example. You have a house you bought for $500,000 and 3 years later its value is $800,000 . Now, will you pay tax on $300,000 the value increased. You don't have the money until you sell it. But hey, you want a loan, and you have an asset worth $800,000, do you want to keep it as a collateral to get a loan, Yes you can. I repeat He is right when he said he doesn't understand finances but he presents it in a way that other people who doesn't understand it will think he is right

[@ronaldmutasa8075]

Trevor! Absolutely fantastic roast at the White house dinner! My man! Africa representing- so proud of your efforts brother! Kudos from Zimbabwe

[@omogenews]

TRUTHkzbin.info/www/bejne/nobCfXd_rcqSotk

[@awesomed007]

i am south african and i consider him a hypocrite and thief !!!

[@mamadousalane2024]

@@awesomed007 should we care?

[@kgosiyabokone4568]

@@awesomed007 please spill the beans. im curious as to what he stole

[@gladysmataru6517]

@@awesomed007 what did he steal? Your wallet?

[@digibri]

Well said, Trevor! Here's another weird aspect to your topic. My wife and I are buying a house (we still have a mortgage.) So, we don't actually own it ourselves yet... the bank still owns it. However, we still have to pay taxes on the "house we own". But, the bank can take it from us whenever they want because we don't actually own the house yet... but yet we pay property taxes for owning a house...

[@beachcrow]

Congratulations on the house! The bank can't take it from you "whenever they want", only force a sale if you default on the mortgage. Any appreciation on the house value is yours, they only own your unpaid loan balance.

[@chrisk6668]

That's a pretty poorly written mortgage agreement in they can take it whenever they want lol. Also you already own equity in your home (unless your payment terms are as bad as the terms of your mortgage agreement being that they can take it from you at anytime) that you can borrow against without paying tax on the the equity or on the money from the loan. This is how assets are leveraged into wealth as long as the money borrowed is used to make more money of which the profits will be taxed as they are realized or purchase another asset that is going to appreciate in value and not pay tax until the asset is sold at a profit. I suggest you have an attorney look over any agreements you sign in the future because you've been had by the underwriter.

[@MrKeychange]

Exactly!!

[@robertpadillosandiego2821]

when your house appreciates, and you decide to take out a home equity loan, then come back to this comment. you're extremely ignorant. homeowners every day take out loans against the collateral and equity in their homes. Elon musk is doing no different.

[@smokey5lbc1]

This OP is off a bit from the topic of this video. You own your home. Just like Elon owns his stock. The difference is, you borrowed money from someone else (your lender) to buy your home because you didn’t have all the cash on hand or you didn’t want to use all of your money to buy it. The Lender isn’t Visa or MasterCard; they want assurances that if you fail to pay them, they can get some if not all of the money they loaned you back. So they demand a secured interest in whatever it is you buy with the money they loan you. That’s what your mortgage is. If you had bought the house outright with your own money, then there would be no mortgage/secured interest. Putting that to the side, your example of owning a home that appreciates and getting taxed on that appreciation even though you haven’t realized it yet, makes more sense.

[@Brittney1986]

Trevor’s communication skills are incredible. 👏💕 This is his calling, no doubts about it. Thank you for all you do, Trevor! 👊🏻

[@PalmelaHanderson]

Rich people, ironically, pay people a lot of money to make it look like they don't actually have any money. "Sir, we need some tax money, please" "...Money? I don't know what you're talking about" "You're standing in front of a $40 million dollar mansion..." "Oh, this house? It's actually not mine, I just rent it. For free. It's paid for by a company."

[@ThePinkBinks]

Very true.

[@Marcus-ec1kx]

Why don't you offer to pay 50% tax, maybe then you can be taken more serious

[@SouleymaneDiallo-bb2pl]

He blew my mine bro

[@tiararoxeanne1318]

Trevor is right! I think if billionaires use shares as collateral or in any other transactions, the government should tax the shares based on the value stated in the transaction. It is only unrealized if the owner doesn't use it at all.

[@flone9872]

Only a South African can expose Elon's scheme. 🤑🤣

[@Goshin89]

@@flone9872 that's not just Elon. All billionaires leverage their assets live off of "debt" and never pay taxes. Only getting richer.

[@beachcrow]

So the government should tax the transaction if you take out a second mortgage?

[@chrisk6668]

It's the same as equity on your home. Millions of non-billionares do this regularly. It's extremely basic. It's just a comedy monologue it's made to be a joke not to be taken seriously.

[@Goshin89]

@@beachcrow idk. Like Trevor said. The difference between the billionaire and I is that i still have a taxible income. But i think billionaires can live completely off of credit back by these unrealized gains without having a comparable income to match their lifestyles. No doubt their lifestyles.depends on the stability and infrastructure their government provides but they are able to get the most out of the system without contributing much. The only thing the government gets is the tax of the income their employees make. But alas since most of the employees get peanuts...

[@michaelclark6941]

The stock market is literally a scam. With the ability to short, leverage, call, do options, etc., it is all a game to take money from the poor. Companies don't change value overnight based on external influences that often, but the way they play, they do.

[@JohnDoe-zj6xf]

Money is exactly the same. Modern Human life itself is a scam.

[@yolothegoat1967]

As someone who loves and majoring in economics. Economics as a whole is a scam.

[@julyvainfp]

Well it is based on demand and offer. Daily variances may look surprising but in the long term they are less so.

[@negi_puneet]

The Stock market is more about feelings than it is about the technicalities of economics.

[@andrasbiro3007]

Yes, it's largely a scam. But if you learn the game, you can make fortunes, it's not even hard.

[@michaelr.landon1727]

Honestly, Trevor, it sounds like you *do* understand the stock market.

[@nifapz9596]

You know the guy has a portfolio even though he pretends not to be familiar with the idea of illiquid assets, come on..

[@oldrrocr]

They jack up the price one day so that they can "sell it short". They now make money when it goes down.

[@KimNetz]

If they use it as collateral, they should be taxed on that value, because it's no longer theoretical it is property.

[@MoneyGist]

Ever since the video explaining the GameStop stock saga, I've concluded that Trevor has quite the aptitude for grasping and explaining the workings of the financial sector.

[@BonJoviBeatlesLedZep]

Trevor admits in his book that as a poor kid growing up in Soweto that he was a natural capitalist, reselling stuff at school. I'm sure he picked up a lot from it

[@dannyarcher6370]

This video proves he doesn't.

[@ginoclaves]

@@BonJoviBeatlesLedZep Idk, bringing up reselling stuff in school as poor kid feels off compared to billionaire tax evasion. Less "grassroots capitalist" and more "getting by".

[@jmisc]

I genuinely think that people like Trevor should serve as WH press secretary.

[@bovinityleak2066]

The WH press secretary represents the whitehouse. They DO NOT speak truth to power in that capacity.

[@chrisk6668]

🤢🤢🤢🤮

[@ntatemohlomi2884]

Won't work, way too honest.

[@mysteriousbella6878]

Yesssss

[@Kikongolessons]

@@ntatemohlomi2884 👍

[@ronaldmutasa8075]

Rules are designed to benefit those who are already rich.

[@Davi-rx]

They drafted it from the get go.

[@hankschrader7050]

Elon Musk IQ: 155 Bill Gates: 160 Warren Buffett: 148 High IQ and market related skills determines who becomes rich. Bad genetics for low IQ and bad looks determines who gets bullied in highschool and decides to become a Woke twitter incel who hates society and hierarchies/capitalism as a result.

[@rickmorty7284]

No that's nonsense. Without the rules people would be dirt poor.

[@tinaperez7393]

Cuz the rich 1) write the rules 2) pay the politicians to make those rules law.

[@tinaperez7393]

@@rickmorty7284 they are. The average school district in america has 40% of its students so poor they qualify for free lunch. And over 50% of Americans don't own stocks. Very high personal debt and paycheck to paycheck living in america and brutal affordable housing shortage. And lotsa other statistics like this.

[@dharmakaurkhalsa3923]

So well explained by Trevor. Brilliant minds like his always find the way to put complex stuff into words that anyone can understand.

[@UXtatic]

Which says A LOT about the 'experts'.

[@rickmorty7284]

lol....that's not how the stock market works. Avoid media sensationalism

[@Devillionaire]

Except he’s wrong.

[@beachcrow]

He said up front he was clueless. If a bank gives you a mortgage loan on a house, they use the house as collateral. If you don't pay the bank takes the house.Same with stocks.

[@shamswarooplongani4321]

@@beachcrow ikr a 7th grader should understand this but these adults in the comments don't understand this simple stuff

[@vjh4584]

He was right when he said he doesn't understand finances. Let me give you an example. You have a house you bought for $500,000 and 3 years later its value is $800,000 . Now, will you pay tax on $300,000 the value increased. You don't have the money until you sell it. But hey, you want a loan, and you have an asset worth $800,000, do you want to keep it as a collateral to get a loan, Yes you can. I repeat He is right when he said he doesn't understand finances but he presents it in a way that other people who doesn't understand it will think he is right

[@Ruhee-wg8up]

Okay so but don't they have to clear the loans ?.how do they do that?. Do they even pay loans or not?.

[@edelsmurf]

When i get equity grants from the companies I've worked for, they take out some percentage of those stock grants for tax payments. And then i have to pay any remaining taxes _based on the value of the stocks at grant time_ when my taxes are due. If the stocks then go down, i have a loss. If they go up, i have a gain. Unrealized losses and gains get counted at sale time. Why does it have to work this way for normal people (thus no skirting tax law), but not for company execs?

[@DrWisdomForPresident]

Stock Market Slick Scammy way. You got it bro Bingo👍. Understanding the U S TAX code and taking advantage of the U S TAX code why the rich get richer. NOT Understanding the U S TAX code and not taking advantage of the U S TAX code is why the poor get poorer and the poor pay 100 more TAXES than The Rich who no pay TAXES at All. The poor live in fear of I R S while the Rich has no FEAR of I R S, because the Rich go by the TAX CODE.

[@edelsmurf]

@@DrWisdomForPresident It's not even about not _understanding_ tax code. I mean, yes, that's part of it. But, largely, it's about not being given the same opportunities to abuse it.

[@DrWisdomForPresident]

@@edelsmurf I understand Robert👍 Knowing the ENTIRE TAX code of the United States and benefit from the U S TAX code by Aplying the U S TAX code is Super Wise 👌. When you think of TAXES, Think and Act like how the Billioners, Presidents and corporations think when doing your taxes. THE RICH FOCUS ON PLAYING SMART BY taking the maximum advantage of the U S TAX Codes. THE POOR AND THE MIDDLE CLASS FOCUS ON WORKING HARD. The poor and the middle class never even bother to try to understand the TAX code to use it to thier advantage. Stock Market Slick Scammy way. You got it bro Bingo👍. Understanding the U S TAX code and taking advantage of the U S TAX code why the rich get richer. NOT Understanding the U S TAX code and not taking advantage of the U S TAX code is why the poor get poorer and the poor pay 100 more TAXES than The Rich who no pay TAXES at All. The poor live in fear of I R S while the Rich has no FEAR of I R S, because the Rich go by the TAX CODE.

[@lightknight876]

🤣 did you think you and billionaires (who "finance campaigns") play by the same rule?! There are 2 Americas.

[@DrWisdomForPresident]

@@lightknight876 🤣There were 2 AmericaS THEN. Now there are 4 AmericaS. Definitely Billioners way of TAXES thinking is the way 🤔 to wealth of being a billioner. Try thinking like and acting like a billioner and see what happen.

[@catalincatalin1377]

Simply brilliant as always. If half of this world would think like him, the chances are we would be at least 100 years ahead.

[@svenjorgensenn8418]

He takes money from hedge funds lol

[@robertpadillosandiego2821]

it's not brilliant. it's either ignorant or dishonest. homeowners every day take out loans against the collateral/equity in their home value. if Elon must default on his loans, they come after his stock. Noah's post is either ignorant or dishonest.

[@roundtwo3321]

@@robertpadillosandiego2821 because homes are physically real (estate) and can physically be taken from you. Stocks aren't physically real.

[@roundtwo3321]

Half of the world does think like he thinks. It's the other half of the world (January 6) that are slowing things down for the rest of us.

[@msp9413]

trevor is probably the most intelligent host rn man

[@omogenews]

TRUTHkzbin.info/www/bejne/nobCfXd_rcqSotk

[@TheEnigmaticDeenTruth]

The Lies....smh

[@twitch3942]

@@TheEnigmaticDeenTruth Name a host smarter...

[@TheEnigmaticDeenTruth]

@@twitch3942 Jon Stuart....Greg Gutfeld...Letterman...Leno..

[@ahmed.abdelaleem]

have u seen how he defend in islam aggressivly and out of willing ignorance?

[@shnawdude03]

It’s a more sophisticated gambling.

[@sunshine3914]

T’is is. Cept, you can’t get a loan on a game of blackjack.

[@JibsMotoVlog]

I'm a stock trader and that's true. Everytime Jarome Powell speaks, the market moves crazy. Even if he just saying he had a toothache, the market jolts. I'm scare of that man

[@svenjorgensenn8418]

It's because goons like you keep the system running. Realistically you're afraid of yourself

[@JibsMotoVlog]

@@svenjorgensenn8418 eshol

[@liodemirror1775]

Smart, witty, humerous but yet respectfull. Gotta love Trevor

[@30minutesLess]

Only smart enough to fool crayon degrees.

[@reddragon7762]

Makes perfect sense to me. You took out a loan from bank, bought a business, used your ownership in a different business as collateral. If I fail to pay u, u get my other business. You fail to know Trevor that stocks change in value until sold. But as a holder of said shares u OWN a piece of the company and get additional rights, like voting and such. Thats separate from the value of the stock. Stocks are a bundle, comes with a stock with value and a stock that says here's your right to vote here. 2 in 1 package.

[@svenjorgensenn8418]

Depends, some stocks carry voting rights most do not

[@vastpeople9623]

Your loan will be taxed one way or the other, that was his point.

[@smartiee74]

Between the scenes is the best part of returning to the audience format!!!

[@middleearth8809]

That's what I like about Trevor, he is a thinker.

[@mash_amba]

Trevor you should bring your brother Elon Musk on these segments, it would be awesome

[@fiiiig]

Essentially billionaires have a back door around taxes.

[@BelleTolles]

Trevor is even more brilliant than I thought

[@rockwithyou2006]

This is one of the stupidest videos I have seen. His arguments are trash. And there are people who love it. Sigh

[@stefankral1264]

Often we need comedians to see through things. Well done!

[@kallen868]

Trevor is the best for this!

[@moonhunter9993]

Trevor is brilliant!

[@xolingazimbi1862]

Such a brilliantly laid out argument... But also loving how he says "can you guys "borrow me" the money to buy twitter " :D Makes me so nostalgic :D

[@tiyas5378]

I noticed him saying that too :) Is it a colloquialism of some sort?

[@catch_0227]

@@tiyas5378 South African slang, means 'lend me'.

[@valeriemacphail9180]

"Neither borrower nor lender be". Not specifically SA slang. A grammatical quirk of the English language: to borrow: borrower receives. to lend: lender gives While other languages settle for one word for both eg. "prestar".

[@kgmams9852]

Thanx for simplifying the billionaires game for us Trev... Makes sense now how tax gets legally evaded and since they get to dine & fund lawmakers, they'll unfortunately keep winning on this...

[@sherryberryblueberry6156]

Brilliant as always, Trevor!!

[@Geothermal_Escapism]

Quality stuff, as always Trevor

[@magdalisalmodovar9113]

Trevor makes a great point.

[@bethuelmamabolo8246]

Protect Trevor Noah at all costs!!

[@emilionema]

they try to trick the mind but it's that simple 😅

[@DrWisdomForPresident]

Stock Market Slick Scammy way. You got it bro Bingo👍. Understanding the U S TAX code and taking advantage of the U S TAX code why the rich get richer. NOT Understanding the U S TAX code and not taking advantage of the U S TAX code is why the poor get poorer and the poor pay 100 more TAXES than The Rich who no pay TAXES at All. The poor live in fear of I R S while the Rich has no FEAR of I R S, because the Rich go by the TAX CODE.

[@abdelhak50]

“I’m by no means an economists “ Proceeds to give opinions about economy

[@lightknight876]

It's almost like the game was rigged. I wonder if it has something to do with billionaire"campaign donations". 🤔

[@vanessa4u4evr]

Almost???

[@jgales2987]

Thank you Trevor for pointing this out. I had the same thought!

[@BaSsGaZ]

So wait, if I get paid with shares, then I won't pay taxes?

[@cchege]

yes

[@beachcrow]

You'll pay taxes if/when you sell the shares.

[@Neihilrach]

Brilliant as ever👍.

[@Thunder-Chief]

Beautifully stated, Trevor! You forgot to mention that the banks also charge them an extremely low interest rate, lower than you or I could ever get, and they borrow enough money to cover the interest payments. Then, they claim the interest payments on their taxes for a deduction! It's a total scam!

[@sriharimenon7502]

putting stocks as collateral for loans IS how the rich fund themselves on the daily.

[@djnoplay766]

YEA BUT THEY CONTROL THE STOCKS THROUGH DARK POOLS SO THEY ALWAYS WIN

[@simonerender8425]

Preach it Trevor. After your speech at the Correspondent's dinner and now this, I think you should be Bernie's next public relations guy. ^_^

[@yogeshkothule4293]

Chill guy's, he clarified at start that don't understand finance

[@bw13579_]

TREVOR IS SO BRILLIANT, ON POINT WITH HIS EXPLANATION ON THE TOPICS 👍

[@geoffreyschuchardt5350]

This was so awesome and well explained

[@BriefNerdOriginal]

In Switzerland you have to declare your stocks and such for taxes. Crazy world eh!

[@joermnyc]

I wonder if someone ever offered stock as collateral, and then the very next day that stock just tanked… Bank: “Sir, your collateral just deflated like a soufflé.” Billionaire on paper: “I know, thanks for the loan bye!”

[@beachcrow]

Not the way it works. The bank only allows a small % of the stock as collateral, so borrowers have to sell more stock at a loss if it tanks. The banks win.

[@johndoe688]

well, they can force you to sell the stock AND whatever you bought with the loan, sooooo.............

[@albo3323]

😂😂😂😂😂😂😂😂this would make a great skit

[@omogenews]

TRUTHkzbin.info/www/bejne/nobCfXd_rcqSotk

[@omogenews]

TRUTHkzbin.info/www/bejne/nobCfXd_rcqSotk

[@viviennea.293]

Bravo!!!! Trevor you are amazing. Brilliant..

[@blakelondon1]

I wish Trevor was my high school economics teacher. So what I'd like to know is when is the bank loan is due and how is he paying it? Does he eventually have to sell stocks to pay it back or no?

[@AG-cw9sq]

he might never need it , remember he is a billionaire, 1% of his welf is more than enough to live confortable, he can use profits from the company he bought to pay just interest only or if no profits just pay and count as an interest expense wich is tax deductible, most probable he will never need to sell it. so dont worry about him , he will be fine.

[@roundtwo3321]

No. He just used the stocks as a carrot to get the banks to loan him more money. He's probably expecting Twitter to pay out enough money to him to use to pay back the loan to the banks in comfort. That is if we don't all cancel our Twitter accounts. I guess it's really up to us if he can pay his loan back using Twitter.

[@rodi2345]

ma man...i enjoy enjoy ur show every single second of it

[@Snoflakes_1]

Such a smart observation. I never thought of it like that. Really makes you wonder about the stuff you just accept because it's so normalized

[@it_roam5919]

Actually Travor, you can use anything you want as a collateral - you just need to get the other party to agree and accept it as so. 😀

[@eyesthatsmile-heartthatlov8050]

But when you use it, it should be taxed at that time if it hasn't been taxed before.

[@oldrrocr]

(and get your son or son in law to provide the "market value" of it. Cash out, then if it goes down you've only lost other people's money...see every Trump property)

[@thaddeusvincent2909]

Trevor...u hit it out of the park...as usual💪💪

[@abidaislam9038]

you are making too much sense, my friend 😂

[@astralfluxaf]

You’ve nailed it!

[@betaman2009]

Elon can do that because investors have high confidence in Tesla shares for the future which keep on rising. I get where Trevor is going but Tesla is not a suitable example because they're doing very well and it makes more sense to use that as collateral.

[@twcreativity4u]

On my subscriptions page, this video's length is shown as 4:20. I see what you did there.

[@DraaelD]

This sounds like a purely joint passing conversation with the guys. LoL

[@Rod_madk]

Great man Trevor.

[@joshuaphillips755]

This is one of the most important things ever covered by the daily show... And this was all we'll ever get of it.

[@beachcrow]

You missed the beginning where Trevor said he did not know what he was talking about. That part was true.

[@ricardoneves7307]

Totally agree with Trevor!

[@tanyawalters8775]

I love this! Such great points Trevor.

[@jinajames9884]

"Can you borrow me some money?".....brings back memories of growing up in South Africa 🤣🤣

[@sora6244]

why would you get taxed for owning shares? it would be the same as getting taxed every year for owning a house

[@tedwitus]

not a coincidence that Trevor's video about Elon Musk comes in at a tidy 04:20 I see you Trevor!

[@alanhindle3149]

Offshore tax havens and trusts are also a lot of fun. I agree, it's so strange that we now depend of late night comedians like Noah, John Oliver, Jon Stewart, Seth Meyers to understand this upside down Wonderland we are expected to live in without ever shouting "off with their billion dollar heads!"

[@shmutube]

BRILLIANT observations!

[@oppositeofh8]

trevor, you're a treasure.

[@DennisTheInternationalMenace]

If stock "Is not a thing" Then it shouldn't be used to buy other things. To use your stock, Ether cash it out, Or have a bank buy it as collateral with the option to buy it back. Trevor is right, Its like a rich ppl scam

[@svenjorgensenn8418]

Stocks aren't liquid. So you're contradicting yourself

[@chrisk6668]

A stock share is a non-tangible asset, how tf is that not a thing lol? Is a copyright or patent not real thing in your mind either because it is and it generally has at least some value.

[@icemouf7480]

😂😂😂🤣🤣🤣NICE ONE BROTHA!!

[@SB-tc2jr]

Trevor, You are AMAZING!

[@myuhara1]

In this instance you are stretching your logic a bit, Trevor. Elon did not say that he did NOT have Tesla stocks. Of course he does have Tesla stocks. But what he did say is that the government cannot tax people on unrealized gains of stocks. He can borrow money from his investors with his Tesla stocks as collateral. But then, the risk is on investors lending money to Elon based on Elon’s stocks that might change values day to day. It’s totally different.

[@eyesthatsmile-heartthatlov8050]

What is your point? Trevor did not say Elon said "he did not have Tesla stocks". Did you even watch the video?

[@seutloalimorebotsane1704]

I like how you deduce logic into issues. These are the loop holes that millionaires and billionaires use to get reacher, and it's perfectly lawful. And Floyd died for 20 bucks, we live in a sad world

[@prettyhuis6650]

Trevor ur view and outlook on life reminds me of my dad. U have to be the most oppend minded celebrity i follow. I truly ENJOY how u look a things from all angels. And ur outlook is always funny. Win win🤣🤣

[@NyxisNox]

The episode beIN 4minutes20seconds like Elon's bid xD

[@nahidmirmahmud8914]

Instead of taxing dollar value of the stock, they can tax percentage of stock that rich people are holding, and government can realize that at the going rate.

[@dlifedt]

The nuance is that the ppl accepting Musks stock as collateral also accept the risk that it goes down and they won't be compensated.

[@ThisisMissHope]

Well said!!!

[@joycenbruce]

As usual your logic is spot on!

[@gavinreid9184]

He can crystallise a point with inimitable style. He may not always be a rib tickler, he is always worth listening to.

[@svenjorgensenn8418]

Only reason he is saying this, is because we will forget it in 6 months lol.... what was happening before the pandemic lol???

[@deborahfrederick916]

But when he broke it down, he really made so much sense, though!

[@primevalbully]

Well said!

[@Angelovic1]

Really no different than doing a cash out refinance or borrowing against the equity on your home. The actual home value fluctuates. Real taxation will occur when realized at time of sale. Interest is paid in the interim. No guarantee by either party.

[@truthfulpolitics6636]

That is what I am saying Trevor. You just explain it more eloquently.

[@rwmorey71]

I used my house as collateral for my mortgage based on the value of it at the time I bought it. If the value of my house went down I would be "under water" on my mortgage. I'm not a billionaire or even a millionaire but you can't change the rules around unrealized capital gains because "regular" people like me would be affected more than the 1%.

[@eyesthatsmile-heartthatlov8050]

Don't you pay property taxes every year?

[@rwmorey71]

@@eyesthatsmile-heartthatlov8050 I do but I don't pay capital gains tax on the theoretical game in the value of my house.

[@darwinfinche9959]

Y'all need to release more in-between scenes like this

[@Mkhehla]

2:34 Trevor showing his South african colours for a second there... "Can you guys BORROW ME the money" LOL!

[@dozied6620]

It’s the golden rule, my friends. He who has the gold makes the rules.

[@mdcampbe]

I can be really critical of how the Daily Show has affected his edge, and even candor on many issues…but this is an example of why I was ever a fan of his.

[@flokitheboatbuilder2478]

Sorry, what do you mean?

[@mdcampbe]

@@flokitheboatbuilder2478 which part didn’t you understand?

[@flokitheboatbuilder2478]

@@mdcampbe I don't understand the whole comment you wrote, care to explain?

[@mdcampbe]

@@flokitheboatbuilder2478 I don’t understand your question…care to explain?

[@flokitheboatbuilder2478]

@@mdcampbe which part of my question didn't you understand sir ?🙂

[@lasithaarthanayaka558]

Well done

[@Mybestfriendlivesinboston]

Nailed it !

[@null090909]

A tax on collaterals would save a lot of time. It would not be possible for people like Trump to inflate the valuation of their assets when borrowing and at the same time deflating it in their tax forms.

[@svenjorgensenn8418]

Like Trump? You mean every Billionaire on the planet???

[@null090909]

@@svenjorgensenn8418 Yes.

[@jardinise4292]

I hope Trevor’s protected. Cause I know they don’t like him talking like this.

[@roundtwo3321]

We already know this stuff. It's not a secret. People have been talking about this forever in public arenas. It's not like you could use collateral to get a billion dollar loan. So, they're not worried about your learning how to do this.

[@Were_It]

Number 2, lets get this ball rolling.

[@michaelSlick50]

So right. Exactly how I view it too. Nice work!!