And helping the poor is just too much

No way we can talk about actual finance?? Lets do it!

* Tesla saved half a billion in taxes last year using accelerated depreciation. Tax breaks for executive stock options shaved a quarter billion off the company’s tax bill. Unspecified “U.S. tax credits” were good for $300 million of tax savings. Musk’s company also used net operating losses to offset current year income, although it’s hard to know how much of that affects U.S. income rather than the company’s far-larger foreign income.
* Congress might give Tesla even more tax breaks. A bill passed by the House of Representatives in the previous Congress would have retroactively reinstated a provision allowing full expensing of research and development expenses which could save the company up to $2.4 billion in taxes.

That’s one of the things that I’ve found odd. A lot of people that very strongly support things like tax credits for EV cars, in order to fight climate change, will then turn around and talk about how terrible they are when they’re actually used. A lot of times people don’t seem to have a consistent view of what they actually want, and will be outraged by the results of policies they themselves supported.

I love how she’s proving his point, i think he’s saying he shouldn’t be able to do that, but as it currently stands, it’s legal

You know, every Dem POTUS candidate has run on tax reform of some description. There haven’t been a single tax reform bill brought to,the floor of either house.

This post is the prime example of people not understanding the US tax laws and just regurgitating Main Stream Media.

Ditto for most of big tech. Amazon famously lost money for like 20 years then suddenly posted several billions of profits just a few years ago. Elon and others would be foolish to not take advantage every tax loop hole out there just as foolish if you or I failed to do so. The trouble is the tax code is highly focused on the individual W2 income as there is the cash cow for US Gov’t. Individuals can’t fight IRS and maneuver and frankly ‘hide’ income as large companies can. You think Biden’s 80,000 extra IRS workers were going to audit companies? Nope – think again, much easier, more successful audits, auditing individuals and everyone in IRS knows this.

Let’s not forget Musk’s generous income tax cut over that period.

She actually proved his point. In a working tax system Tesla would NEVER be able to do that.

Tax those freeloaders.

People will keep moaning about capitalism and these shitty billionaires but will keep obeying them and will keep going to work tirelessly.

You’d be the biggest fool around to not participate in tax avoidance.

Don’t forget about the billions in government subsidies. He is the one taking taxpayers money.

Hence why I support ending federal income tax – it’s just a complex scheme for tax lawyers to profit off of.

There’s so much brilliant human potential locked up in collecting & avoiding taxes.

Inflation is an invisible tax that takes no accountants, or lawyers to implement. Simply spend what you want to spend, print it, and we pay taxes via inflation.

Or, you can have your employer automatically deduct your taxes while they spend a billion dollars on lawyers to pay zero.

Everybody paying – is clearly not an option.

Yeah he has to pay several accountants to navigate all those loopholes. Would be better for him if there was just one massive loophole that he could use for all purposes.

Elon: But I’m also a genius for exploiting those loopholes. LOOPHOLE

trump loves tax loopholes

I don’t even get the EIC anymore, what fuckin loopholes are there for normal-ass people? Lmk I need some this year for sure.

Rather than agreeing with what you’ve been saying this entire time, you just throw out a lame gotcha zinger and miss the point. 

What’s not been mentioned is that Tesla is a multinational corporation and so most of its tax bill is through other countries. It might seem illogical to Americans and written a certain way almost criminal BUT it is in fact legit and would be almost tax malpractice on Teslas part if it did not do its taxes this way.

As for the original post it is not accurate.

I’m not saying it’s fair but Tesla is following tax laws. So rather than trying to make this something against Musk and Tesla it’s really about how multi national corporations pay taxes through other countries.

So Tesla used the existing tax code, that the Biden administration had 4 years to change but didn’t even think about changing, to avoid paying taxes. Tax avoidance is not a crime.

So, Elon is telling you the system is messed up while paying zero taxes. He’s quite literally advocating for his company to pay more tax, and you guys are mad about it? That’s what you want, no? Or do you just want to hate anything Trump and Musk do whether or not it’s good?