Don't fall for the hype. Same goes for every billionaire and even millionaires down to thousandairs... If that's even a thing.
Look, Elon isn't walking down the street with access to hundreds of billions. He's figuratively the CEO,CFO of all that money, in a portfolio. That money is invested, reinvested, etc etc and Elon doesn't take even a salary. The idea that he's not paying his fair share is asinine to say the least.
Elon employees a shit ton of people. Within that shit ton of employees there is a shit ton of taxes being paid, bet on it. All of the payroll taxes paid literally come from the accounts of the businesses he owns, is a share holder of. Every single dollar in taxes paid by the people he employs would not even exist if it wasn't for him investing and reinvesting into his companies.
If/When Elon were to take out a chunk of money for personal use, and not as a business expense, he will pay through the nose a higher tax rate than any of us plebs. You have to understand that people like Elon, Gates, Buffet, Bezos literally CREATE AND MAINTAIN one of the biggest tax bases for income for the federal government by employing huge amounts of people. Do you really think it's logical to tax these guys on their portfolio size?
If and when any of these Barons decide to cash out any amount of money for personal expenses for personal or pleasure they will be taxed like crazy. The ignorance or just plain lack of education in the world is the very reason that these BRANDON followers are so off base and so far from reality.
At the end of the day, MIND YOUR BUSINESS, and keep your noses out of everybody else's. We always declare freedom and liberty is something that we need to continue to strive for but then attack others for being successful because of their freedoms and liberty.
Taxation is theft, period. Going after the wealthy who by far are the nations employer backbone will not help us ever. Mind your business and maybe someday you will become the next wealthy individual, and then you can become the target of everyone's ire.
Side note, if you read this far I applaud you. Something came up yesterday and it really caused me to fall back and try to regroup in my head. Before the pandemic became anything there was a billionaire couple found murdered in their home, I guess some say murder suicide. I saw something yesterday that smacked me right in the dick.... I'm giving direction here, if your interested go seek and you may find something that fits like a huge puzzle piece we all have been missing.
Who were they, what did they own, how does that fit into what we are seeing today, and lastly who controls THAT asset today?
THAT asset being just one asset they had, but when you see it, you'll know exactly what the actual FUCK I mean. Home
Holy Shit Fam, Holy Shit.
God Bless the United States of America, may God also bless it's Patriots.
You do understand that you have to pay back everything you borrow???? And if you pay that back with income, that is taxed. So no, he is not doing that, because that would incur taxes.
This topic has been beaten to death, with every loophole explored. The IRS is very focused on ensuring that the loans are paid back, and if the loans are forgiven, then that is commuted into income.
can open shell companies opening shell companies opening shell companies
revolving door between corporate america + IRS/SEC/FDA
imma go left-field and say any billionaire that pays no taxes or is in a lower bracket than me, has really, really, really smart people PERVERTING tax loop holes and using super shady vehicles to hide their money.
Back in the 90s they had to disclose shit, but there were a number of ways around that. You could take a pile of cash to an attorney, have him buy or create the shell for you, open a bank account for your shell, and then act as the 'face' of your shell for all legal purposes.
"Mr Attorney, I want you to contact the owner of [specific real estate parcel] on the behalf of my shell that you manage, and negotiate a price."
I assume you can still do that, but everything probably has to be reported now.
He’s not screwing them so much as understanding how income tax works. Most small businesses and self-employed people pay nearly nothing, either. Elon doesn’t get a W-2 or anything.
The US government throws tax dollars away, prints them with zero regard. I don’t give a flying fuck about who’s not giving Uncle Sam enough money until Uncle Sam stops throwing it all in the woodchipper.
Don't fall for the hype. Same goes for every billionaire and even millionaires down to thousandairs... If that's even a thing.
Look, Elon isn't walking down the street with access to hundreds of billions. He's figuratively the CEO,CFO of all that money, in a portfolio. That money is invested, reinvested, etc etc and Elon doesn't take even a salary. The idea that he's not paying his fair share is asinine to say the least.
Elon employees a shit ton of people. Within that shit ton of employees there is a shit ton of taxes being paid, bet on it. All of the payroll taxes paid literally come from the accounts of the businesses he owns, is a share holder of. Every single dollar in taxes paid by the people he employs would not even exist if it wasn't for him investing and reinvesting into his companies.
If/When Elon were to take out a chunk of money for personal use, and not as a business expense, he will pay through the nose a higher tax rate than any of us plebs. You have to understand that people like Elon, Gates, Buffet, Bezos literally CREATE AND MAINTAIN one of the biggest tax bases for income for the federal government by employing huge amounts of people. Do you really think it's logical to tax these guys on their portfolio size?
If and when any of these Barons decide to cash out any amount of money for personal expenses for personal or pleasure they will be taxed like crazy. The ignorance or just plain lack of education in the world is the very reason that these BRANDON followers are so off base and so far from reality.
At the end of the day, MIND YOUR BUSINESS, and keep your noses out of everybody else's. We always declare freedom and liberty is something that we need to continue to strive for but then attack others for being successful because of their freedoms and liberty.
Taxation is theft, period. Going after the wealthy who by far are the nations employer backbone will not help us ever. Mind your business and maybe someday you will become the next wealthy individual, and then you can become the target of everyone's ire.
Side note, if you read this far I applaud you. Something came up yesterday and it really caused me to fall back and try to regroup in my head. Before the pandemic became anything there was a billionaire couple found murdered in their home, I guess some say murder suicide. I saw something yesterday that smacked me right in the dick.... I'm giving direction here, if your interested go seek and you may find something that fits like a huge puzzle piece we all have been missing.
Who were they, what did they own, how does that fit into what we are seeing today, and lastly who controls THAT asset today?
THAT asset being just one asset they had, but when you see it, you'll know exactly what the actual FUCK I mean. Home Holy Shit Fam, Holy Shit.
God Bless the United States of America, may God also bless it's Patriots.
do you honestly not know how income tax works? this means that he's spending his existing assets
that some of them are appreciating is completely irrelevant for tax purposes
he doesn't take a salary, and he is not selling stock in the years he pays no income tax
hes most likely borrowing against his assets, to dodge income taxes.
You do understand that you have to pay back everything you borrow???? And if you pay that back with income, that is taxed. So no, he is not doing that, because that would incur taxes.
This topic has been beaten to death, with every loophole explored. The IRS is very focused on ensuring that the loans are paid back, and if the loans are forgiven, then that is commuted into income.
bro... when amz/apple/etc...
imma go left-field and say any billionaire that pays no taxes or is in a lower bracket than me, has really, really, really smart people PERVERTING tax loop holes and using super shady vehicles to hide their money.
irelands favorable tax laws are just that, laws set by ireland to SPECIFICALLY bring companies in
shell companies are designed for specific tax laws
the tax system is screwed up because of greed and incompetence
however, there are no direct loopholes to avoid income taxes on cash or investment income
money doesn't have to be hidden to not be taxed, it just has to not go through a taxable event
RIGHT.
and big banks like to launder money cause... theyre ok paying the fines.
shell companies do not have to disclose members! actually, they dont have to do shit.
shadow banking? ... cause daylight banking is soooo boring.
family offices? ... cause regular hedgefunds are easy to brag about.
bro... all these things exist for one purpose. to HIDE money.
Anyone can create or buy a "shell company".
i assume youre right.
i do know, though, they dont have to disclose shit. especially if your reported addy is in some bum-fuck island in the caribbean.
in fact, read the pandora/panama papers. all that laundering is done via shell companies.
Back in the 90s they had to disclose shit, but there were a number of ways around that. You could take a pile of cash to an attorney, have him buy or create the shell for you, open a bank account for your shell, and then act as the 'face' of your shell for all legal purposes.
"Mr Attorney, I want you to contact the owner of [specific real estate parcel] on the behalf of my shell that you manage, and negotiate a price."
I assume you can still do that, but everything probably has to be reported now.
k, cool. i loved the 90s. popped my sweet-pies cherry, experimented on a vast quantity of hallucinogenic medicine.
<3 90's.
now lets fast-forward to 20201.
Knowing Musk pays zero in taxes gives me goosebumps and arousal. Anyone who screws the federal government is a friend of mine.
He’s not screwing them so much as understanding how income tax works. Most small businesses and self-employed people pay nearly nothing, either. Elon doesn’t get a W-2 or anything.
yer of the retard kind.
he has hired the best of the best to hide his income/money.
Good.
AYYY...
capitalism is why muerica is literally the best place to live.
but also fair is fair.
Taxation is theft. Fairness is nowhere to be found.
being "re-educated," cause you called Xi winnie-the-pooh, is much much much worse than paying taxes.
bro, bro, bro.
hes figuratively fuckn you, as an american citizen, in the butt region.
You misspelled The federal government.
IMMA TAKE MY COCKSIES, AND PANTOMIME W/ IT "GO FUCK YO'SELF," AS IM LITERALLY SKULL FUCKN YOUR HEAD REGION.
The US government throws tax dollars away, prints them with zero regard. I don’t give a flying fuck about who’s not giving Uncle Sam enough money until Uncle Sam stops throwing it all in the woodchipper.
Worth vs income
I don't think he takes a salary, at least from Tesla.
tesla just started heavily lobbying against the minimum 15% corp tax, proposed in the new UBER-SUPER-DUPER-FUCK-OUR-FUTURE-GENERATIONS bill.
Musk does not get a salary though...
All stuck on shares of a company that, if he doesn't perform he loses all.