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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Bonefish who wrote (1527894)	3/7/2025 4:31:11 PM
From: Wharf Rat	1 Recommendation Recommended By rdkflorida2 Respond to of 1585769

Variable, from year to year. The Secret IRS Files: Trove of Never-Before-Seen Records ... ProPublica propublica.org › article › the-secret-irs-file... Jun 8, 2021 — In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the ... -- MUSK'S $11 BILLION TAX BILL IS BIG NEWS—BECAUSE ... Dec 21, 2021 Americans For Tax Fairness First, as to the number: Musk did not say whether the $11 billion is all federal income taxes or if it also includes tax owed to California, where he lived much of the year. It likely does include state tax, since Forbes recently estimated that Musk owes federal income tax of $8.3 billion based on his stock sales this year. $8.3 billion represents about a 10% federal income tax rate on the $86 billion increase in his wealth in 2021. (Musk was worth $153.5 billion on December 31, 2020, according to Forbes, and $239.5 billion on December 20, 2021, based on the magazine’s real-time data.) The average effective tax rate was 13.3% for all Americans in 2018 (the latest year with available data). Moreover, Musk may have paid little or no federal income taxes since at least 2014—despite his ballooning fortune—so the one-time payment of $8.3 billion (or even $11 billion) in essence covers multiple years. According to ProPublica’s analysis of IRS records, Musk paid no federal income taxes in 2018. Between 2014 and 2018 his wealth grew by $13.9 billion, yet he paid just $455 million in federal income taxes, a rate of only 3.27%. = I'm guessing Tesla is on the list of Buffet's 800 companies. Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. ... itep.org Jan 30, 2025 — Elon Musk's company avoided almost all federal income tax on nearly $11 billion of U.S. income over three years ...