In some countries, the fine is not defined as a definite amount, but as a percentage of yearly income. In Finland, a mild speeding ticket is half your daily income. That means for Musk, if he was caught speeding there, would have to pay ~38,000,000 EUR as a mild slap on the wrist.
It should ratchet up as well. Second infraction is half your weekly, third is half your monthly, fourth annually.
Not that I think fines work as deterrents, but if they’re going to work, they should work for the rich as well.
Even without the ratcheting, assuming the percentages are well calibrated, it works on everyone equally no matter your financial situation. A wealthy person paying tens or hundreds of thousands of euros for going 5km/h over the speed limit learns the lesson very quickly.
Fine is a general deterrent, restitution is separate.
Think fine for running a stop sign - that’s a deterrent for running the stop sign.
What if I am Musk rich? How is any of it a deterrent?
In some countries, the fine is not defined as a definite amount, but as a percentage of yearly income. In Finland, a mild speeding ticket is half your daily income. That means for Musk, if he was caught speeding there, would have to pay ~38,000,000 EUR as a mild slap on the wrist.
It should ratchet up as well. Second infraction is half your weekly, third is half your monthly, fourth annually.
Not that I think fines work as deterrents, but if they’re going to work, they should work for the rich as well.
Even without the ratcheting, assuming the percentages are well calibrated, it works on everyone equally no matter your financial situation. A wealthy person paying tens or hundreds of thousands of euros for going 5km/h over the speed limit learns the lesson very quickly.
The key word, my friends, is “income”. Wealth ≠ Income
So in reality, Elon would probably not pay that much. He would most likely pay nothing.