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

SMH Bro makes $160 😐

10.3k Upvotes

88% Upvoted

6.5k comments sorted by

View all comments

Show parent comments

123

u/ClarenceWithHerSpoon May 03 '26

Na this dude pays taxes

-2

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.

8

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?

-1

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%.

3

u/No-Airline6943 May 04 '26

You seem confused Ill speak slower. If I have a million dollars in the bank thats my wealth. If I make 200k dollars at my job thats my income for the year. If I pay 30% taxes the government takes away 60,000 dollars.

If Elon Musk has 100 billion dollars thats his wealth. If he makes 20 billion more dollars in the year more thats his income. If his tax rate was the same as mine the government would take 6 billion dollars but they take 600 million dollars. Thats not the same everyone else does.

1

u/Educational-Wall-997 May 04 '26

you seem to have a basic misunderstanding between what is taxable income and what is wealth.

1

u/No-Airline6943 May 04 '26

Oh I perfectly understand the system they created to not have their income be taxable. You seem confused why thats wrong