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Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
201–210 of 267 posts
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#202> "hoard wealth" > No mention of reinvestment > "Tesla was able to avoid paying ... taxes ... by claiming ... tax credits" (presented as bad somehow) > "We're not backing down" Where or where is the media coverage that attempts to speak to people who don't already buy in to the premise? This isn't journalism it might as well be blogging. Congratulations, you've made the world more polarized!
Truthout's bias is clear. That said, I think there is actually a lot of value when a society can accommodate journalists with clear agendas and ideologies. Truthout is, generally speakking, going to be skeptical of large wealthy corporations. That kind of bias leads to journalists sniffing out real stories like this one.
Don't get me wrong - I don't there the media landscape should tolerate only one or a narrow range of viewpoints. We are healthier when there is a diversity of angles being pursued in journalism. And ideally, high enough media literacy in society to recognize lies and low-effort garbage.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#203Earlier 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…
"India is on track to become the largest EV market by 2030, with rise in investment over the next 8-10 years."
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#204Earlier quoted context omitted.
None of these things, or even the combination of all of these things, allows an individual to shield 100% of their income from taxes, the way corporations shield their income from taxes.
They absolutely do! Earned Income is a refundable tax credit - 47% of all Americans pay no net income tax, and some receive a refund in excess of any taxes paid.
* excluding payroll tax deductions, both personal and employer paid (which is effectively still a tax you're paying). They also pay sales tax, which isn't an income tax per se, but when you have to spend every dollar you make to survive, it might as well be.
Everyone contributes.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#205Earlier quoted context omitted.
> 4. Journalism is in a battle with the current administration Is this controversial?
Yes, as it should be. Criticize the policies, not an administration led by a party you don't align with.
What about criticizing a lawless administration, filled to the gills with unqualified sycophants, bereft of empathy, kindness, and all human decency?
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#206Earlier quoted context omitted.
It isn't a tax credit for making profits. It's a tax credit for making EVs. The reason there are credits for both consumers and manufacturers is that the manufacturer credits provide an incentive to build EV factories in the US, even if some of the cars are for export.
But we don't care about more profits, we care about more EVs. If you want to create an incentive to make EVs that are exported then you can make one, for example by subsidizing production equipment or by providing a per-unit sold refundable tax credit.
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Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#207Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#208Earlier quoted context omitted.
Yes, as it should be. Criticize the policies, not an administration led by a party you don't align with.
What about criticizing a lawless administration, filled to the gills with unqualified sycophants, bereft of empathy, kindness, and all human decency?
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Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#209I wish this article was written with a less biased tone. I'm genuinely interested in understanding it better. As far as I can tell, the article cites two things: $500M tax savings by using an accelerated depreciation schedule (unclear if they saved $500M more by using accelerated vs a regular depreciation schedule, but I assume no) and they claimed $300M in tax credits. The article doesn't address the other $1.5B, pr…
>I think the real thing here is the weaponization of EV tax credits as some sort of boogeyman.
It's a hot topic right now since Trump just ended the EV credits. Which you'd think Musk would want to keep.
And beyond this article, Musk has "quiet quit" on Tesla as a car company, based on his earning calls. They said little about cars and instead deflected the hype to "AI robots" in 2027. It's all just so weird.
Re: Tesla Paid Zero Federal Income Tax in 2024, Despite $2.3B in Income
#210Earlier 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.
lol! No no, this America!
Automakers are actually buying and selling EV credits to eachother. Tesla often would have been in a loss position and possibly bankrupt if the big 3 auto makers weren’t buying credits from Tesla so they could get their fleet averages down and keep making trucks and SUVs.