The reason we're only hearing about spending cuts

[struth]

Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. Income in 2024

No surprise, of course. To some of us. The least we can do is install a minimum effective tax rate.

Limbaugh convinced the guy in the trailer home that what was good for a billionaire is good for a guy in a trailer home.

That guy is still in that trailer home, voting Republican. The billionaire's net worth has increased exponentially.

This is a company, not an individual billionaire.

I thought you dems were happy when corps weren't paying taxes, cause they pass it on to consumers?

 

[struth]

As I'm sure you're aware Biden proposed a minimum corporate tax to close the loopholes corporations lobbied for. It's odd that we never hear about corporate welfare from The Following, right?

Yes, the dems passed a min corp tax rate. it went in to effect in 2023. The problem is Xiden and the Dems lied to you about what it really would do...and you fell for it.

New Corporate Minimum Tax Ushers In Confusion and a Lobbying Blitz​

Large companies are bracing for the impact of a 15 percent tax that went into effect this year.

New Corporate Minimum Tax Ushers In Confusion and a Lobbying Blitz (Published 2023)

Large companies are bracing for the impact of a 15 percent tax that went into effect this year.

www.nytimes.com

At his State of the Union address this year, President Biden celebrated the fact that his new climate and tax law would no longer allow some of America’s largest corporations to pay zero in federal taxes.

“Because of the law I signed, billion-dollar companies have to pay a minimum of 15 percent,” Mr. Biden said, referring to the Inflation Reduction Act of 2022. “God love them.”

 

[Zafira Cherry]

Using the worlds richest man as an example of tax imbalances is perfeectly understandable.

Trump ring a bell?

 

[BrokeLoser]

$2.3B in net profits.

$25.71B in income.

Poor destroyed TDS’er…Mac claims to be in the field of finance…he doesn’t even know that corporations are pass through entities that don’t pay income taxes…hahaha…He doesn’t even know that shareholders carry the corporations tax burden…and fellow TDS’ers Zincwarrior and CowboyTed like all his goofy bullshit…hahaha

 

[Orangecat]

And they just line up for me.

You pulling trains again?

 

[CrusaderFrank]

Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. Income in 2024

No surprise, of course. To some of us. The least we can do is install a minimum effective tax rate.

Limbaugh convinced the guy in the trailer home that what was good for a billionaire is good for a guy in a trailer home.

That guy is still in that trailer home, voting Republican. The billionaire's net worth has increased exponentially.

^ But swearsssssssssssssssssssssssssssssss he's "Independent" and NOT a Progressive Moonbat

 

[struth]

Using the worlds richest man as an example of tax imbalances is perfeectly understandable.

Musk has paid $11 billion in taxes, just in one year

https://www.cnn.com/2021/12/20/investing/elon-musk-11-billion-dollars-taxes/index.html

I don't disagree, one person should not have to pay $11 billion in taxes all by himself

 

[Toddsterpatriot]

Poor destroyed TDS’er…Mac claims to be in the field of finance…he doesn’t even know that corporations are pass through entities that don’t pay income taxes…hahaha…He doesn’t even know that shareholders carry the corporations tax burden…and fellow TDS’ers Zincwarrior and CowboyTed like all his goofy bullshit…hahaha

Corporations aren't pass thru entities.
Unless they're s-corps.

 

[BrokeLoser]

Corporations aren't pass thru entities.
Unless they're s-corps.

S Corps issue shareholders a K1 and C Corps issue a 1099-Div….Either way the entity passes its income on to shareholders…When Mac1958 says “Tesla didn’t pay income taxes” that be true but shareholders certainly did.

 

[jc456]

I was supportive of them before?



That's your ignorant tribal mentality.

You operate as programmed.

you didn't answer whether every employee paid taxes? Isn't that money provided by the corporation as part of their salary?

 

[my2¢]

It doesn't do any good worrying about what others pay. It'll drive a person nuts.

 

[Toddsterpatriot]

S Corps issue shareholders a K1 and C Corps issue a 1099-Div….Either way the entity passes its income on to shareholders…When Mac1958 says “Tesla didn’t pay income taxes” that be true but shareholders certainly did.

Pass-through entity has a real meaning, a C-Corp doesn't fit that meaning.

Tesla's shareholders did not pay the corporate taxes of Tesla.

 

[BrokeLoser]

Pass-through entity has a real meaning, a C-Corp doesn't fit that meaning.

Tesla's shareholders did not pay the corporate taxes of Tesla.

Semantics….Shareholders paid taxes on corporate income. It’s likely that Tesla avoided double taxation thanks to green energy credits pushed by libs.

 

[BrokeLoser]

That guy is still in that trailer home, voting Republican. The billionaire's net worth has increased exponentially.

According to the data…Isn’t it Democrats who live in trailer parks?

 

[MarcATL]

I paid $28,000 in federal income taxes in 2024.

Tesla paid $0 on $2.3 billion in income.

This is the problem with our tax code.

Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. Income in 2024

Tesla reported $2.3 billion of U.S. income in 2024 but paid zero federal income tax. Over the past three years, the Elon Musk-led company reports $10.8 billion of U.S. income on which its current federal tax was just $48 million.

itep.org

Name the problem OP.

 

[Toddsterpatriot]

Semantics….Shareholders paid taxes on corporate income. It’s likely that Tesla avoided double taxation thanks to green energy credits pushed by libs.

Considering one is double taxed and the other only taxed once,
I think it's a giant distinction.

 

[The Sage of Main Street]

How about getting rid of the federal income tax?

Curing the Affluenza Pandemic

Taxing away all inheritance and trust funds will give us $3 trillion a year from the 1% alone. Only pathetic serfs who hate their Daddies for not getting rich and spoiling them believe richkids have a right to exist.

 

[The Sage of Main Street]

I think the One-Percenters start at around $800k per year.

Defund the RichKid Reich

With what pile did most of them start at birth?

 

[BlackSand]

A rising tide raises all ships.

.

The rising tide raises all boats ... Including yachts.

But ... The rising tide will never put someone in a different boat ... They may still be in a shitty rowboat full of holes ...
And then they'll just be in deeper water where it's easier to drown ...

.​

 

[BrokeLoser]

Considering one is double taxed and the other only taxed once,
I think it's a giant distinction.

There is no distinction to be made with regard to whether or not shareholders carry the tax burden on earned corporate income.