Politically, Musk has described himself as "half Democrat, half Republican" and "I'm somewhere in the middle, socially liberal and fiscally conservative."
So by his own admission he is a fiscal conservative... what does this mean?
Fiscal conservatism - Wikipedia
> Fiscal conservatism, also referred to as conservative economics or economic conservatism, is a political-economic philosophy regarding fiscal policy and fiscal responsibility advocating low taxes, reduced government spending and minimal government debt.[1] Free trade, deregulation of the economy, lower taxes and privatization are the defining qualities of fiscal conservatism. Fiscal conservatism follows the same philosophical outlook of classical liberalism and economic liberalism.[2] The term has its origins in the era of the New Deal during the 1930s as a result of the policies initiated by reform or modern liberals, when many classical liberals started calling themselves conservatives as they did not wish to be identified with what was passing for liberalism.
Note the part about low taxes
Looking up a category of political beliefs a person seems to ascribe to and then assuming they ascribe to every subset of that belief is generally a mistake. I, for example, consider myself mostly libertarian but also support single-payer universal healthcare.