Elon Musk issued a warning on Thursday against Democrats’ billionaire tax proposal that levies unrealized capital gains, saying that eventually the government will run out of ultra-wealthy individuals, following which, they will target the majority middle class. “US national debt is ~$28,900 billion or ~$229k per taxpayer. Even taxing all ‘billionaires’ at 100% would only make a small dent in that number, so obviously the rest must come from the general public. This is basic math. Spending is the real problem. https://usdebtclock.org” @elonmusk tweeted on Oct. 28. Chiefly authored by Sen. Ron Wyden, chair of the Senate Finance Committee, the radical 23.8 percent tax rate for long-term capital gains on tradable assets would be targeted at those making a billion dollars or more in annual income or $100 million or more for three consecutive years. This puts around 700 Americans in the bracket whose wealth is mostly concentrated in stocks. …