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Jun 10 - tax cheat elon musk....sells wolf tickets on dodging the ruthless irs mafia



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 7 days ago '09        #1
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messy marv stan  topics gone triple plat - Number 1 spot x65
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Jun 10 - tax cheat elon musk....sells wolf tickets on dodging the ruthless irs mafia
 

 
visit this link https://observer.com/2021 .. al-income-tax/


A bombshell investigation of newly uncovered IRS data by ProPublica on Tuesday revealed that Elon Musk, along with more of America’s top billionaires, paid very little income tax in recent years.

The publication said the Musk responded to an initial press query with a lone question mark without any further elaboration. But the Tesla CEO broke silence on Wednesday when his top Twitter fans prompted him to discuss his tax situation


The ProPublica report alleged that Musk, who’s worth $152 billion, paid less than $70,000 in federal income tax in 2015 and 2017, and nothing at all in 2018. He did seem to have paid his due in 2016 when he exercised more than $1 billion in stock options

But his overall “true tax rate” for the five-year period between 2014 and 2018, calculated as the amount of tax paid divided by increase in net worth, is only 3.27 percent, much lower than an average American household


image Musk’s defenders challenged ProPublica’s calculation. “If ‘tax the wealthy’ happens (which it won’t), then Elon Musk would need to sell billion dollars worth of Tesla shares,” tweeted Pranay Pathole, an Indian engineer whom Musk often interacts with on Twitter. “This would be awful for the stock price and could hurt a lot of retail shareholders.”

“Exactly,” Musk responded. “[The] only time I sell Tesla stock is when my stock options are expiring and I have no choice"


image He added, “Btw, I will continue to pay income taxes in California proportionate to my time in [the] state, which is and will be significant.”

The ProPublica investigation didn’t include information on state income tax




In May 2020, Musk tweeted that he’s going to “sell almost all physical possessions,” including his houses, so that he could focus on managing Tesla, SpaceX and his other ventures.

He confirmed on Wednesday that he’d sold all but one house. “Yes, sold my houses except for one in Bay Area that’s rented out for events,” he tweeted. “Working on sustainable energy for Earth with Tesla and protecting future of consciousness by making life multi-planetary with SpaceX. Also AI risk mitigation with Neuralink and fixing traffic with Boring.”


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16 comments
 

 7 days ago '16        #2
00010111  topics gone triple plat - Number 1 spot x4
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This guy is still pushing the bullsh*t claim that he's fixing traffic with tunnels...

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 7 days ago '19        #3
zzxxccvvbb 
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 00010111 said
This guy is still pushing the bullsh*t claim that he's fixing traffic with tunnels...

Hey, at least he's not making missiles and k*lling machines like past geniuses
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 7 days ago '04        #4
ItAlY2BkLyN 
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Tax corporations not individuals
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 7 days ago '14        #5
strungout  topics gone triple plat - Number 1 spot x3
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 zzxxccvvbb said
Hey, at least he's not making missiles and k*lling machines like past geniuses
, family owned an emerald mine in Zambia, he eating off of that Apartheid money , he's also good at hiring geniuses but I'm not entirely sure if he was one himself
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 7 days ago '04        #6
CentsCuZ 
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People aren't taxed on "increase in net worth." They're taxed on realized gains, net income, etc.
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 7 days ago '15        #7
PolygonMafia 
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This sh*t man... My girl had to be on hold for 4+ months to just be told that her accountant screwed up her taxes and instead of getting 1200 back, she gets 1125 back. That will show up in 4-8 weeks.

fu*king pathetic part is that they are trying to go after who leaked these findings instead of going after TAXING THESE MOTHERfu*kERS. Coming after ol 75$ for my girl but can't follow through on collection literal BILLIONS owed by these fu*ks.
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 7 days ago '17        #8
S550  topics gone triple plat - Number 1 spot x1
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Nothing illegal here

And most of these guys like musk and bezos are cash poor.

They borrow off there own stock to sustain lifestyles and stay afloat



These big companies excercise tax credits , losses and other Legal ways to avoid big tax bills. Same thing most of us whom are educated do to scale and thrive our own businesses

Nothing being done illegal here

Taxes are on net earnings and gains not losses
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 7 days ago '09        #9
ShadyVsEminem 
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Apparently the US taxpayers have to give Bezos $10biillion because he and his brother want to go into space, its a sick joke if ever a man had the money to keep blue origin going its him he cant take it all into the grave
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 7 days ago '09        #10
ShadyVsEminem 
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 S550 said
And most of these guys like musk and bezos are cash poor.
Bezos is buying a $1.2 billion yacht that has its on yacht on board(the smaller yacht holds a fu*king helicopter ) so spare me with that sh*t, this is the type of arguments hacks like Stuart Varney make to protect the reputations of the multi-billiionaires


Last edited by ShadyVsEminem; 06-10-2021 at 02:01 PM..
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 7 days ago '20        #11
Xiox  topics gone triple plat - Number 1 spot x1
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No one wants to fix the tax code to make businesses pay what they owe & give the common man making less than 300k a break
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 7 days ago '17        #12
ninesix703 
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 S550 said
Nothing illegal here

And most of these guys like musk and bezos are cash poor.
When your company IPO's, thats when the ATM machine finally opens up.

With all due respect, you're completely wrong.

Bezos spent 40 million on a clock.
Musk used to daily drive a McLaren F1 in his 20's.
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 7 days ago '11        #13
MACADEMICS 
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 ShadyVsEminem said
Apparently the US taxpayers have to give Bezos $10biillion because he and his brother want to go into space, its a sick joke if ever a man had the money to keep blue origin going its him he cant take it all into the grave
One of my uni lecturers told me that why these billionaires are all trying to go to space. They will build a station and then send their money there electronically in order to avoid paying taxes. Sounds wild but he was serious. He said since no govt can claim space then it would be impossible to tax companies from there.
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 7 days ago '09        #14
ShadyVsEminem 
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 MACADEMICS said
One of my uni lecturers told me that why these billionaires are all trying to go to space. They will build a station and then send their money there electronically in order to avoid paying taxes. Sounds wild but he was serious. He said since no govt can claim space then it would be impossible to tax companies from there.
How much money do they need? Bezos just got fleeced in a divorce but he made it back in a few months why cant he pay more taxes or stop taking handouts?
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 7 days ago '17        #15
S550  topics gone triple plat - Number 1 spot x1
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 ninesix703 said
When your company IPO's, thats when the ATM machine finally opens up.

With all due respect, you're completely wrong.

Bezos spent 40 million on a clock.
Musk used to daily drive a McLaren F1 in his 20's.
Musks mclaren could
Be a business expense My truck is in my business name and has zero a*sociation to my personal income.

Bezos does not hold 180 billion in cash he like anyone of them that’s in a majority share holder bracket which defines there networth , Borrow off there stocks and or redirect funds in to investment vehicles that pay a yield and offer tax incentives

My point was you pay taxes on your net earnings not your losses

Jeff bezos and Amazon pay two completely diff tax bills and file two completely diff documents


There is a reason why most of the high networth guys are paying low taxes because they have great financial advisors directing them.

Rich dad poor dad teaches people how to do exactly the same with huge tax incentives on income. But no one wants to pay attention they think everything only caters too the 1%
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 7 days ago '07        #16
Damagegadget  topics gone triple plat - Number 1 spot x1
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Dude always trying to paint himself as a “commoner”. And people have severely blown his head up into believing he is

 5 days ago '20        #17
BlacksAndLatins  topics gone triple plat - Number 1 spot x1
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 strungout said
, family owned an emerald mine in Zambia, he eating off of that Apartheid money , he's also good at hiring geniuses but I'm not entirely sure if he was one himself
known dope fiend with a zillion posts on boxden trying to speak on intellect

please overdose already



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