Tesla and SpaceX boss Elon Musk is now moving into a different realm of wielding power from being a "visionary tech and business genius."

Elon Musk's DOGE

Post Donald Trump's mammoth victory over Kamala Harris in the US presidential election, Musk has moved closer into the corridors of power, as he was nominated as the head of the Department of Government Efficiency or 'DOGE'.

Musk will lead this supposed government department that is yet to be confirmed with former Republican presidential hopeful and businessperson Vivek Ramaswamy.

Musk's War On Regulations

Long before turning socially conservative and a MAGA icon, Elon Musk has also always held economically or fiscally conservative views. In continuation of his ideas and thoughts to reign on the government and the bureaucracy at large, Musk has vowed to do what he had been talking about throughout the campaign.

In another tweet, Musk went on an all-out attack on regulations and any form of checks and balances and said, "The world is suffering slow strangulation by overregulation. Every year, the noose tightens a little more."

The richest man on Earth, with a total net worth of over USD 320 billion, further added, "We finally have a mandate to delete the mountain of choking regulations that do not serve the greater good."

Government Spending Causes Inflation

In another post, Musk doubled down further on his ambitions. In a post, he said, "The excess government spending is what causes inflation!"

Further on spending, Musk added, "ALL government spending is taxation. This is a very important concept to appreciate."

"It is either direct taxation, like income tax, or indirect via inflation due to increasing the money supply."

Musk was reposting and quoting, thereby reacting to another post, which talked about the US government expenditure.

The original post claimed, "please remember that the government has spent an average of 2 TRILLION DOLLARS more per year than it takes in, for the last 8 years. Any company that ran like that would fail. Any person that lived like that would be beyond bankrupt. There is no good argument to continue this."

The United States' rate of inflation for October stood at 2.6 per cent, rising from 2.4 per cent in September.