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Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
101–110 of 267 posts
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#102Earlier quoted context omitted.
It's not rage-bait, it's a practical example of both how bad the tax code is and most topically how abusive Tesla is to the country that "hosts" it. Also there's really no such thing as fiduciary duty in public companies, not to the degree you're talking about or it's implied actions. I wish people would stop repeating it in that fashion, it's just a thought-terminating cliche. Violating fiduciary duty would be somet…
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I find it endearing that you think this line of thought is worth repeating, if nothing else.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#103Can a private citizen do the same things that companies do? People reinvest in themselves too.
Yes if you have business income. In fact it's common.
If you're using business income to invest in yourself as an individual, that's pretty illegal where I live. Maybe it's different where you are.
The extent to which I can invest in myself is using business supplies or equipment for personal tasks here and there. Like, print some things or use some software I didn't pay taxes on.
I know some people go as far as driving their work vehicles around, but that's totally illegal both in terms of insurance and tax purposes here.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#104Can a private citizen do the same things that companies do? People reinvest in themselves too.
Sure, especially if they own a corporation. My wife’s business was a net loss for a couple of years during COVID. We scrounged by on my salary so she could keep her employees and not close down for good. It got better, but our net income was negative even though we had what looked like a decent chunk of revenue. I’m glad we were taxed on net, not gross.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#105Earlier quoted context omitted.
> Tax credits seem to make sense for an EV company? 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, such as in the article here. A lot of times people don't seem to have a consistent view of what they actually want, and w…
In reality, what is more damaging for the environment? Replacing a 2019 Toyota Rav4 with a 2025 Tesla in North America, or..... Replacing a 1985 VW Jetta with a 2019 Toyota Rav4 in India? I see YouTube videos all the time where people in third world countries are using turn of the century hit-and-miss engines to power things like water pumps or machine tools. These countries are leaking countless gallons of oil and f…
The American Rav4 is probably doing a lot more miles/year than the Indian Jetta. So it'll emit a lot more CO2.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#106A Single Tax regime aka the Land Value Tax would make these articles a thing of the past. We could solve the deficit, pay down our debts and many people would pay less in taxes, if we eliminated all taxes and replaced them with a Land Value Tax.
So if I were a trillionaire with a reasonable home, I’d pay the same taxes as my neighbor? Sign me up!
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#107Earlier quoted context omitted.
> Tax credits seem to make sense for an EV company? 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, such as in the article here. A lot of times people don't seem to have a consistent view of what they actually want, and w…
I may be the only one, but I was under the impression this whole time that all EV tax credits were for consumers who buy EVs, not companies who sell them.
It amounts to the same thing, no?
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#108Sounds like this is the result of "accelerated depreciation." As far as I can tell, that's a strategy that ultimately allows you to pay less tax one year and more tax in a later year. I don't have a strong feeling on the value of that particular tax law, but it seems somewhat less nefarious than the implied "not paying taxes at all."
Others have pointed out the strategy allows for picking the best year to pay taxes and therefore avoiding a lot of taxes. I'd add to that argument that the current administration is likely to create exceptionally favorable policies for Tesla specifically so they really should burn every trick now since they are about to get a whole new bag of them. I can just see it now, legislation built for Tesla. Of course it will be named something like Save The Children Clean Air Tax Credit Act but it will apply to Tesla almost exclusively as a way to plow money towards loyalist.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#109Earlier quoted context omitted.
In what world is a massively profitable company paying almost nothing in taxes polarizing?
You have to come into the article believing a ton of things: 1. Tax credits are illegitimate 2. Accelerated depreciation is illegitimate 3. Ownership of productive companies is "hoarding wealth" 4. Journalism is in a battle with the current administration 5. Paying taxes is a good thing If you _don't_ buy into these premises, for which there is no argument given for or against, you'll be tilted against the author. If…
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Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#110Earlier quoted context omitted.
That was with his money (you know richest person on the planet) and had nothing to do with Tesla.
Ah I forgot his money has nothing to do with tesla and he doesn't run tesla or have a huge stake in it. And he in no way benefits from how future tax changes affect them, right?
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