Because due to fancy accounting they haven't made a profit? Reminds me of how movie studios can make even the most successful movies unprofitable on paper to get out of profit sharing deals.
this post was submitted on 31 Jan 2025
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Can't wait until next year! "Tesla received 600 million, after tax payments of $0, despite $3 billion in income, 2/3rds of which were also from the federal government."
It would be so awesome if I could deduct food, housing, and utilities from my income for tax purposes.
I think you can, but most people take the standard deduction every year (which is supposed to represent these things) rather than calculate the itemized deduction with receipts.
I’ve itemized a bunch of times and you were pretty limited in what you could deduct. If you have a mortgage you can deduct the interest but not the payments. And before 2020 you deduct a portion of your household expenses if you had a home office.
But to a business those are all operating expenses and businesses only pay tax on profits.
That's such garbage. Corporate lobbying should have never been made legal.
You know what would help this? Putting another face on Mount Rushmore and renaming bodies of water.
Don't forgot reopening Guantanomo and letting the FAA collapse will also greatly benefit normal Americans
Guantanamo never closed, having a torture camp is just too useful
And erasing queer people. That will definitely help.
Just a symptom of why the US has budget issues constantly every year.
Companies that can afford to pay taxes with absolutely zero negative impact to operations instead get a free ride. Meanwhile most individuals pay half their income to taxes and half the country lives paycheck to paycheck.
I always like to point out that the billionaire tax cut only encouraged companies like this to give higher bonuses to their already rich executives and taking money away from their employees. I’m no accountant, but I’m willing to bet those bonuses factor in to how little taxes the corporation pays.
You want money to trickle down? Tax the executives 70% over $10 million of income. Either the company will take a profit and pay taxes, pay their executive bonuses and the majority will just go to taxes (and the executive will still be filthy fucking rich), OR they will increase how much the bottom earners get who will be paying a much lower amount in taxes.
But when that sweet sweet money starts trickling down…
Any year now…
And will never have to again. I still don't know why people voted for President Musk.
Or: how Democrats funded Trump.