this post was submitted on 29 Jan 2026
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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 47 points 3 days ago* (last edited 3 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 3 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 3 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.

[–] resipsaloquitur@lemmy.world 15 points 2 days ago

Welfare Queen.

[–] NarrativeBear@lemmy.world 15 points 3 days ago (1 children)

Rules for thee, but not for me.

I dont understand why people are not more upset about this and rioting. I guess everyone is just burnt out tbh.

[–] comrade_twisty@feddit.org 8 points 3 days ago* (last edited 3 days ago)

Somehow the oligarchs who steal from us managed to comvince the masses that some poor and exploited immigrants are the problem.

[–] cyberpunk007@lemmy.ca 11 points 3 days ago (1 children)

Think of all the money we would have if we didn't have to pay taxes!

[–] tyrant@lemmy.world 9 points 3 days ago

Think of all the healthcare we'd have of everyone paid in!

[–] bookmeat@lemmynsfw.com 7 points 2 days ago

The only reason this company is profitable.

[–] BarneyPiccolo@lemmy.today 7 points 3 days ago (1 children)

One day, we'll just take it out of his hide.

[–] whereIsTamara@lemmy.org 4 points 2 days ago (1 children)

At this rate, that is unlikely.

[–] ElectricAirship@lemmy.dbzer0.com 2 points 2 days ago (1 children)

Why would you say that? This administration is playing with a potential revolution in Minneapolis and is facing down a national labor shutdown on Friday. I know in general things are bleak but resistance over the past year has been growing quite a lot.

[–] whereIsTamara@lemmy.org 3 points 2 days ago (1 children)

No one is going to be touching billionaires.

[–] AngryCommieKender@lemmy.world 1 points 2 days ago (1 children)

This is the one time I would tolerate Scrappy Doo. "Lemme at em! Lemme at em!"

[–] whereIsTamara@lemmy.org 2 points 2 days ago (1 children)

Comedy aside, I’d donate to anyone’s legal fee who solved this problem…

[–] AngryCommieKender@lemmy.world 1 points 2 days ago

Who was being comedic? I agree with Eddie Izzard. I'd shoot Scrappy Doo in a heartbeat....

Oh I see what you're getting at.

Cheers, m8

[–] danc4498@lemmy.world 8 points 3 days ago (2 children)

Personally, I think the goal of all companies should be to pay $0 in taxes, and our tax code should be written in a way that encourages them to spend their revenue on their employees.

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

NotLikeThis.jpg

[–] frongt@lemmy.zip 4 points 3 days ago (1 children)

If we did, we'd have precious little money for infrastructure.

[–] danc4498@lemmy.world 0 points 2 days ago

That money would be taxed as income tax by the employees.

[–] cyberpunk007@lemmy.ca 2 points 3 days ago (1 children)

How would this system work?

[–] danc4498@lemmy.world 0 points 2 days ago

Not sure what you mean. Companies pay $0 in taxes all the time, but by using BS accounting tricks like Tesla is now. Instead that money would go to employees who pay taxes.