Musk's

Elon Musk and long-time Trump supporters object to Trump's big beautiful bill
Musk’s public opposition of Trump right after his exit from the White House has left many confused and raised a lot of questions. While the split seems to be cordial from the President’s end, Musk is currently leading the charge against his new bill.
The United States’ first buddy, Elon Musk, appears committed to rallying support against President Trump’s “One Big Beautiful Bill,” claiming it goes against previous budget trimming efforts.
Call your Senator,
Call your Congressman,
Bankrupting America is NOT ok!
KILL the BILL
— Elon Musk (@elonmusk) June 4, 2025
Musk leads the resistance to Trump’s OBBB
Elon Musk remains steadfast in his public campaign against President Donald Trump’s latest legislation, drumming up opposition to the “One Big Beautiful Bill Act” throughout the day on his X platform.
The Tesla and SpaceX founder urged Americans all over the country to reach out to their representatives and demand its rejection.
Musk’s opposition seems to be focused on how much implementing the bill will cost.
In a series of posts on his social media platform X, Musk criticized the bill, stating, “Call your Senator, Call your Congressman, Bankrupting America is NOT ok! KILL the BILL.”
He labeled the legislation a “disgusting abomination,” warning it could increase the U.S. debt crisis by adding over $2.4 trillion to the federal deficit over the next decade.
Musk’s opposition has found support among some economic conservatives. Senators Rand Paul and Mike Lee have echoed Musk’s concerns, stressing the bill’s potential to increase the national debt and reverse the progress made in reducing government spending.
Long-time Trump supporters object to the tax bill
The “One Big Beautiful Bill Act” is a major legislation aiming to permanently extend the 2017 Trump-era tax cuts, reduce federal spending on social programs, and increase the investments into defense and border security.
A central feature of the bill is the continuation of individual and corporate tax breaks, including exemptions on overtime pay, tips, and auto loan interest, as well as increased deductions for seniors and small businesses.
Musk has let his criticism of the bill be known, writing on X Tuesday night, “Mammoth spending bills are bankrupting America!” he also attached an image that showed the rising national debt over the past three decades. “ENOUGH,” he added.
The “One Big Beautiful Bill Act” narrowly passed the House with a 215-214 vote and now faces the Senate. The bill includes provisions for substantial tax cuts and increased spending on various programs, which have led to projections of a $3.1T addition to the existing national debt over the next decade.
Critics of the bill argue that it unfairly benefits the wealthy and cuts into the budget for essential services. The Congressional Budget Office estimates that the bill could lead to 10.9 million Americans losing their health insurance by 2034.
The bill also proposes a 10-year ban on state-level enforcement of any law or regulation regarding artificial intelligence (AI), which has raised concerns about unsupervised technological advancement, including from Trump’s long-time supporter, Rep. Marjorie Taylor Greene.
Americans have also shared their displeasure with the bill on many platforms, such as Reddit and X, where it’s rare for both conservatives and liberals to agree.
Musk’s opposition has been dismissed by some. House Speaker Mike Johnson stated that his comments were “terribly wrong.” Trump has remained largely silent on Musk’s criticisms and has focused on promoting the bill’s potential economic benefits.
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Elon Musk, the visionary entrepreneur behind Tesla, SpaceX, and the social platform X (formerly Twitter), has made another bold claim: X Payments will eliminate the need for traditional bank accounts by the end of 2024. This ambitious statement reflects Musk’s ongoing commitment to revolutionizing industries and empowering individuals through technology.
A Vision for Financial Independence
According to Musk, the goal of X Payments is to create a seamless, all-in-one financial platform that integrates digital transactions, savings, and investment opportunities. “Imagine a world where you don’t need to rely on outdated banking systems,” Musk said during a recent interview. “X Payments will handle everything—payments, transfers, even your savings—right from your smartphone.”
How X Payments Works
The X Payments system is designed to function as a fully digital wallet, enabling users to:
• Send and Receive Money: Instant peer-to-peer transfers, even across borders.
• Make Purchases: Pay for goods and services online or in-person with ease.
• Store Funds Securely: Use X Payments as your primary savings account, with advanced security protocols.
• Invest in Crypto and Stocks: Integrated options to grow your wealth directly from the app.
This all-in-one functionality is Musk’s response to the fragmented financial systems currently in place, which often involve multiple accounts, platforms, and fees.
Challenges Ahead
While Musk’s vision is undoubtedly groundbreaking, it raises some key questions.
• Regulatory Approval: Implementing such a system globally will require navigating diverse financial regulations in different countries.
• User Trust: Traditional banks have decades of trust backing them. Will users feel comfortable storing their entire financial portfolio on X?
• Technical Scalability: Ensuring the platform can handle millions of users without compromising security or efficiency is critical.
What It Means for Banks
If Musk’s predictions come true, the banking industry could face a seismic shift. Traditional banks, long seen as the cornerstone of financial stability, may#MuskXPayments #Musk's

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