If people like you and the companies that people like you own would pay their fair share of income tax, we would not have to cut anything. It would not be surprising to find that we even had surpluses.
No one should pay a penny more than people like Musk. Find all the billionaires and multi-millionaires who pay the least and set the maximum at the amount the one who paid the least paid. If they paid zero, then no one should pay more than that.
Click on image for the link.
Elon Musk’s company avoided almost all federal income tax on nearly $11 billion of U.S. income over three years
Tesla, the most valuable automaker in the world valued at over $1 trillion, did not pay any federal income tax last year.
Tesla’s annual financial report, released this morning, shows the company enjoyed $2.3 billion of U.S. income in 2024 on which it reports precisely zero current federal income tax. Over the past three years, the Elon Musk-led company reports $10.8 billion of U.S. income on which its current federal tax was just $48 million. That comes to a three-year federal tax rate of just 0.4 percent – more than 50 times less than the statutory corporate tax rate of 21 percent.
