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SpaceX Gets Billions from the Government, Gives Little to Nothing Back in Taxes
- dlcarrier 1y agoNYT thinks I'm a robot, so I can't read the article, but in general startups running at a loss don't pay taxes until they've generated a return on their investment, so this isn't at all unusual and wouldn't be surprising.
- sinharishabh 1y agoNo company pays taxes if they are in loss.
- Kranar 1y agoThe government gets billions back in savings from SpaceX.
- xnx 1y agohttps://archive.ph/du4VQ https://archive.ph/du4VQ
- _acco 1y agoClickbait title. First, this is narrowly about federal income tax. SpaceX presumably pays plenty of other taxes. Second, using the projected profits in the article, SpaceX will have exhausted its NOL pool by the end of this year, and so will pay billions in federal income tax next year. But more important: the whole point of these tax cuts and programs is to let businesses use losses today so they can create value — and tax revenue — tomorrow. Of course, if you take a snapshot after part 1 but before part 2, it will always look like “X gets Y from government and gives nothing back”.
- Larrikin 1y ago>SpaceX presumably pays plenty of other taxes Do you have any evidence of this?
- _acco 1y agoYou think they don’t pay payroll tax, sales tax, or property tax? Operating a business means consuming and producing things, which involves paying taxes.
- deleted 1y ago[deleted]
- pavlov 1y agoPayroll tax is paid by the employees, not the company. As for property tax, didn’t SpaceX move to its remote Texas location (“Starbase”) specifically to avoid taxes and regulations and to run its own company town.
- _acco 1y agoFalse, payroll taxes are split. And Texas is famous for its property taxes.
- felix_n 1y agoAlso false, SS and Medicare taxes are split, but federal income tax is not, with the latter typically being higher.
- votepaunchy 1y agoMost Americans pay more in payroll taxes than income tax: https://taxfoundation.org/taxedu/glossary/payroll-tax/ https://taxfoundation.org/taxedu/glossary/payroll-tax/
- itsdrewmiller 1y agoIncome tax is not payroll tax.
- deleted 1y ago[deleted]
- mgrep 1y agoI guess they forgot the time we paid $100k+/person to get to the ISS? 90% space payload goes through SpaceX and that is the biggest national security boost that frankly, NASA or the US govt could've never achieved.
- votepaunchy 1y agoIt was $90 million per astronaut: https://www.forbes.com/sites/jamiecartereurope/2020/06/03/despite-spacex-success-nasa-will-pay-russia-90-million-to-take-us-astronaut-to-the-iss/ https://www.forbes.com/sites/jamiecartereurope/2020/06/03/de...
- hughes 1y agoIs the author arguing that corporations should not be able to carry forward net operating losses? Or that this one specific company shouldn't be allowed to?
- footlong2 1y ago[dead]
- tyre 1y agoWhy do you believe the US government did USAID?
- Bender 1y agoThe United States Agency for International Development (USAID) is literally a government office. I will let June explain. [1] Their logo is a form of psychological warfare that manipulates people into thinking they are somehow related to Aid. They used to psyop other countries, now they manipulate the masses in the US and EU via social media, chat sites, reddit, chan sites and this site. Someone will say they were defunded by that just means moving to another org that does the same thing. The internet was peaceful for just over a week, same time and period 4chan was offline. [1] - https://www.youtube.com/watch?v=gUOwPcfc1MM https://www.youtube.com/watch?v=gUOwPcfc1MM [video][27 mins]
- ltsbfair 1y agoYou are describing SCL Group and Cambridge Analytica (Steve Bannon's FTC debacle company), which psyops/info-ops manipulates foreign elections and Brexit. USAID was paying for early warning zoological disease research in China.
- Bender 1y agoI described the The United States Agency for International Development (USAID). [1] The money allocated to them for "Aid" is not tracked or accounted for, one of the reasons it was defunded. The previously linked video explains this in more depth although the official reason was due to being woke. The money sent to other countries is just used to bribe officials. Adding to this the current generation of online manipulators are awful. The boomers at least used some advanced psychological techniques. The current generations at best use gaslighting and weak astroturfing. No better than CNN or FOX "News". I expect better manipulation for the tax revenue I contribute. [1] - https://en.wikipedia.org/wiki/USAID https://en.wikipedia.org/wiki/USAID
- msgodel 1y agoI doubt anyone is going to cry over it. Cut spending.
- zoros3 1y agoMars was always a smokescreen for SpaceX's strategic goals in the military industrial complex. Just read the bio of Elon's buddy, Michael D. Griffin. Dark stuff that explains Elon's otherwise inexplicable trajectory over the last decade.