$80B for the IRS, $7B for Elon, & Cuts for Wall Street Bankers A 8/10/22

Elon Musk sold nearly $7 billion worth of Tesla shares, just in case the courts mandate he follow through with his deal to buy Twitter. As a part of the Inflation Reduction Act the IRS will receive an $80 billion investment, but Sen. Tim Scott (R- SC) says it won’t help inflation, and it will unfairly impact the average American. The author of “America: A Redemption Story” shares his personal American story and details why he voted against the bill in the Senate. And layoffs could be coming to a Wall Street bloated with pandemic hires. Lydia Moynihan from the New York Post and CNBC’s Hugh Son break down the job (and bonus) cuts ahead for bankers as firms look to reduce costs. Plus, a loss for well-paid golfers, and Sweetgreen’s future is looking a little less sweet, and a little less green.

In this episode:

Andrew Ross Sorkin: @andrewrsorkin

Melissa Lee: @MelissaLeeCNBC

Katie Kramer: @Kramer_Katie

Sen. Tim Scott: @SenatorTimScott

Hugh Son @Hugh_Son

Lydia Moynihan: @LJMoynihan