Tesla paid its top 5 executives $2.5 billion from 2018-2022, but didn't pay any federal income tax at all

[Professor Emeritus]

And actually earned a net $1 million rebate from the government in that time.

Companies paid top executives more than they paid in US taxes – report

Compensation for senior bosses at firms from Tesla to T-Mobile US worth more than those companies’ net tax payments, study finds

www.theguardian.com

Senior executives at 35 different firms – from Tesla to T-Mobile US – received compensation worth more than the net tax payments of their respective employers between 2018 and 2022, the research found. All the companies generated billions of dollars in profit over the same period.

Analysis by Americans for Tax Fairness (ATF) and the Institute for Policy Studies (IPS) found the collective net federal income tax bill of all 35 companies was negative $1.72bn over the five-year stretch – meaning they collectively received more money back from the government in refunds than they paid.

Over the same period, executive compensation for senior executives at these firms – including salaries, bonuses, perks, benefits, stock options and stock awards – stood at $9.49bn.

Tesla paid no federal income taxes while paying executives $2.5 billion over five years

Over five years Tesla and 34 other companies paid their top five executives more money than they spent in federal income tax, a new study reports.

finance.yahoo.com

Elon Musk's company earned $4.4 billion during those five years and gave its executives $2.5 billion. Despite that, Tesla not only didn't pay any federal taxes, but it received $1 million in refunds from the government. Musk himself is the second richest person in the world, with Forbes reporting he had a net worth of $207.9 billion at the start of March.

This idiot shyt-talks government all the time yet he's built his entire net worth off of government contracts and government subsidies while giving literally nothing back to the public. He's the biggest fukking welfare queen in the country.

 

[Professor Emeritus]

So corporate profits were just 3x higher than corporate taxes in 1980, but profits are 6x higher than their taxes now.


To put it another way, if corporate taxes had kept pace with profits, the government would have collected over $550 billion more in taxes last year, which not only would have meant a lower deficit but also would have had a small helpful impact on inflation.

 

[HabitualChiller]

And actually earned a net $1 million rebate from the government in that time.

Companies paid top executives more than they paid in US taxes – report

Compensation for senior bosses at firms from Tesla to T-Mobile US worth more than those companies’ net tax payments, study finds

www.theguardian.com

Tesla paid no federal income taxes while paying executives $2.5 billion over five years

Over five years Tesla and 34 other companies paid their top five executives more money than they spent in federal income tax, a new study reports.

finance.yahoo.com

This idiot shyt-talks government all the time yet he's built his entire net worth off of government contracts and government subsidies while giving literally nothing back to the public. He's the biggest fukking welfare queen in the country.

"Tax loopholes are continuously exploited by the rich? More news at 11!"

Yes...you'd probably be able to find the same exact happenings going on with other high-income establishments / people.

I wouldn't put too much stock into it because the people aren't going to rise up en masse about it, and due to the Citizens United ruling, these companies are legally allowed to "buy" politicians.

In other words, we're fukked.

 

[UWasntThere]

"I don't pay taxes because I'm smart"

 

[Ohene]

Moral of the story is to start a business

 

[Buddy]

GOP policy at work
These b*stards love giving breaka to the rich and cutting spending for us




Idk about ya'll but I'm ready for more tangibles!!

 

[Sypress]

 

[OperationNumbNutts]

People want to get their panties wet on the issue but then criticize the #bothsides folks. At the end of the day, folks are going to vote people back in the office that overwhelming support this.

 

[Professor Emeritus]

Moral of the story is to start a business

Most small businesses aren't dodging taxes on the level these huge businesses are. If 2.1% of GDP is corporate taxes, and the biggest companies aren't hardly paying anything, then where do you think all that tax revenue is coming from?

Poor people in this country are screwed in opportunity, the middle class and small business owners are screwed in taxes, and the rich profit off of all of it. Only a small fraction of the population can be rich at any time or the rest of that would fall apart.

 

[Professor Emeritus]

People want to get their panties wet on the issue but then criticize the #bothsides folks. At the end of the day, folks are going to vote people back in the office that overwhelming support this.

There are plenty of politicians who are against shyt like this. They don't rise to power because too many people fail to participate, or vote uninformed.

Remember, Bernie Sanders who is the biggest proponent of taxing the rich had won 3 straight primaries and was the Democratic frontrunner until South Carolina swept in and handed the keys to Biden, who has been a friend of corporations and Wall Street for his entire tenure in public office. But even in losing, Bernie forced Biden to the left on some things and made him a lot more economically liberal than he had been previously.


Giving up doesn't do shyt unless you are transferring that energy into your community. Even if you don't want to vote general, at LEAST vote primaries so the right people reach the general.

 

[Richard Glidewell]

Burn it down....... cancel the shuttle contact....... he can't be allowed private control over that platform

 

[Roger king]

This is shameful, you got teachers and firefighters paying higher taxes than rich billionaires and wealthy corporations thats an evil system and one that is morally unjust