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> If he had been taxed at any higher a rate, both companies would have failed. I don't follow. Taxation applies to personal income and corporate profit. A c
by dingaling 13y ago
> If he had been taxed at any higher a rate, both companies would have failed.
I don't follow. Taxation applies to personal income and corporate profit.
A company on the margin of bankruptcy isn't making profit, so they're not 'losing' money in tax.
- bsbechtel 13y agoHe used his Paypal money to fund Tesla and SpaceX. If those earnings had been taxed higher, no Tesla and SpaceX.