But not necessarily perversely incentivised to do this. When debt is created it is immediately sold to create new money that did not exist before. If you look at the symbols we use to represent money, except sideways, you might notice that they look very similar to a sine wave with 2 or more traces running through them nb the dollar symbol has recently been used with a single line. I have limited economic knowledge but I understand that debt is a primary source of growth in our economies. Debt works by offsetting payments along the time axis, bringing money that will (possibly) exist in the future into the present moment, as depicted by the twin-lines in the USD symbol. The GBP symbol is more complex and appears to be made up of several sine waves.
As for not paying income tax, Elon Musk appears to mainly work very hard. I read that he spends a lot of time sleeping in his factories rather than travelling home or to hotels. There are plenty of loopholes to minimise tax in the UK if you have a good enough accountant.
I imagine that Elon Musk may have investments which bring him capital gains and he may well have a huge capital gains tax liability. Musk is a master publicist and his comment about not paying income tax does not necessarily mean that he does not pay other taxes. It’s been successful though, because he has not paid for an advert, and yet we are talking about him here!
The UK is actually a tax haven. It’s the most economically important thing we do as it attracts so much wealth. It works by leaving loopholes in the law by which companies can be formed in places that don’t charge taxes. If you have enough money anyone can use these loopholes. If you’ve not seen it I recommend “The town that went offshore” documentary by the BBC. All the independent traders came together to pay the same taxes as the likes of Starbucks or McDonalds.
My personal opinion is that Brexit was promoted by those who would be most impacted from new tax laws being implemented in the EU to close all tax loopholes in member states. Ironically I think we ended up signing a similar agreement anyway, although don’t know the specifics.
Edit: the treaty does not remove all loopholes, but does tax big corps.
emojis next time though!! 
. Pattern recognition is really useful for observing our universe, because although the recorded history of a thing may be quite specific, they may also be discernable through patterns of self-similarity within a fractal universe (if indeed we are in one, which I believe we are (but at the same time, are not)). There are many knowns that can also be re-deciphered through pattern recognition and although not a pure science, it is fun and results in all sorts of absurdity while also offering new perspectives on ‘reality’.