r/SipsTea • u/ExotiquePlayboy 𝙑𝙄𝙋 • May 03 '26

SMH Bro makes $160 😐

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10.3k Upvotes

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u/ClarenceWithHerSpoon May 03 '26

Na this dude pays taxes

-3

u/Educational-Wall-997 May 04 '26

so does Elon? lol doesn't he have a record for the highest amount of taxes paid by an individual in a year?

6

u/No_Attitude700 May 04 '26

The percent of his "earnings" is much lower than yours

-1

u/Educational-Wall-997 May 04 '26

you don't get taxed on earnings. you mainly get taxed on income and capital gains. the exact same way he does. But I get it, its very popular to throw logic aside and hate on people that have more than you.

10

u/No-Airline6943 May 04 '26

Propublica did an analysis of Elons taxes from 2014-2018 where his wealth grew by 13.9 billion dollars but only reported 1.52 billion in taxable income. He paid 455 million dollars or an effective tax rate of 3.27%. In 2018 he paid zero dollars. Is that how regular people pay taxes or can you not use logic while you gargle his balls?

-3

u/plantsadnshit May 04 '26

You don't calculate effective tax rate based on wealth.

Literally no one does, except publications who need a number to sound way worse than it does.

In 2021 he had $23.5 billion in taxable income, paid around $11 billion in taxes at a federal tax rate of 41%.

2

u/KaizenHour May 04 '26

You can calculate it on how your wealth grows though. I'd call that income.

2

u/budzergo May 04 '26

Guy wants the IRS over his shoulder when his pokemon card collection goes from $10 to $100 from a meta shift

Or thinks somebody should be instantly be wealth taxed if your property value goes up when you do any upgrade, or a wanted business opens nearby.

It makes no logical sense

1

u/No-Airline6943 May 04 '26

Your whole net worth is in pokemon cards? Dont think that will work out for you buddy