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How Much Federal Income Tax Will Elon Musk’s Tesla Pay on $5.7 Billion in 2025 Revenue? $0 | Common Dreams (www.commondreams.org)

submitted 2 days ago by tyrant@lemmy.world to c/news@lemmy.world

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Tesla, the electric car company led by former Trump administration special government employee Elon Musk, released its annual financial report Thursday, showing that it doubled its yearly income in 2025 over the previous year and brought in $5.7 billion.

The company, whose CEO spent several months rooting out what he claimed was fraud and waste across the federal government, reported “precisely zero current federal income tax” on the billions it made, according to an analysis by the Institute on Taxation and Economic Policy (ITEP).

The group explained that Tesla used accelerated depreciation, reducing the value of its capital assets, while also slashing its tax bill with tax breaks for its executive stock options

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[–] newthrowaway20@lemmy.world 46 points 2 days ago* (last edited 2 days ago) (3 children)

Tesla paid less taxes than me. And you.

[–] RagingRobot@lemmy.world 8 points 2 days ago

Yet their CEO has almost unlimited power compared to you. Maybe we should all stop paying

[–] essell@lemmy.world 6 points 2 days ago

And the same as me!

But then I don't live in America.

Though that doesn't always stop them expecting someone to pay taxes

[–] Hideakikarate@sh.itjust.works 6 points 2 days ago

~~and~~ or you. I assure you I have paid more in taxes in one single year than Tesla and Musk have paid in many years combined.