I paid $0 in sales tax for my groceries. My state doesn’t have sales tax on groceries…
The political discussion was done decades ago.
The owners of this country have the tax code they paid for.
0% sales tax on groceries. I live in California.
Get back to me when there’s a Federal sales tax.
“You hear dat Tone? He said I have a concept of a plan.”
I think the meme needs work. I get the basic gripe but Musks sales tax would be levied on physical property he bought for the business like furniture etc. The tax on the purchase of the business is much more complex. And the tax codes need serious reform.
On a related note, why do I have to pay SALES tax on a car LEASE payment?
Groceries are tax exempt here. Everything else is 6% . If you buy a car in another state pay it off and move here you have to pay 6% of blue book value in tax to get it registered. The question being what stat did he buy it in and what is that state’s sales tax . At 6% that’s $26,400,000 .
Zero dollars despite living in red state.
Gee, I wonder why most of the billions want Trump in office.
Lol look when I’m rich enough to buy a social media platform, I don’t need to pay taxes okay. That’s for you fucks
The French had this discussion in the late 1700’s
Because a business isn’t considered a product or service, but rather an investment. When he bought the shares that gave him control of the company, the people he bought those shares from had to pay capital gains tax (which is too low) on the profit they made from that sale.
Musk will also have to pay capital gains tax if he sells his shares of X to some idiot at a higher price than he paid for it. I’m guessing he’ll take a loss though.
Nobody pays sales tax to buy a company, not just the rich idiot. If you disagree with that get the law changed. City, county, state and federal would all need to change.
Most groceries are also untaxed. I agree with the sentiment but you could find a better example
This is a perfect example of how Americans don’t understand how economics works. Or how buying groceries works.
NY has zero sales tax on groceries with a few exceptions like store prepared foods, candy , soda and pet food
*PAID* –
We don’t NEED groceries. However, imagine how terrible a world with Twitter instead of X!
Hopefully zero since there shouldn’t be tax on food. But I get the idea…
[removed]
*paid
In California, raw groceries are not taxed.
Ib4 sOcIaLiSm
THE PROBLEM: This phenomenon can be directly linked to the vast $$$ the wealthy spend on lobbying
THE SOLUTION: “The Equal But Opposite Initiative” is a crowdfunded and open sourced project aimed at providing a counterweight to the lobbying army of the rich.
We will spend dollar for dollar!!
We will identify and combat legislation which negatively impacts everyday hard American workers and true creators of the value in this country!!
We will reinstate the incentive system which made this country the most innovative in the world!! (And optimize it)
We’ll be as ruthless as they are, hiring only the best wolves in the industry!!
…ok so I just made this up today…Anyone actually have experience getting something like this off the ground? I just work in marketing. 🤷♂️
✌️❤️
You don’t pay taxes when you buy shares of a company, only when you sell at a profit. Elon musk essentially just bought every share of Twitter.
Is someone able to quickly explain how this could be? Is it simply a case of how the tax code is written?
The US financial system is a self-aware monstrosity bent on self-destruction in pursuit of profit. It won’t last.
The 6 or 7 states that charge sales tax on groceries should be ashamed that f themselves
Fuck’s sake man. You pay sales tax when you sell your own car, let alone buy one.
How that doesn’t bother people compared to this is beyond me.
While I agree we should tax the fuck out of the rich there are so many missed nuances here but, the basic reason is because the tax you are talking about is for goods and services the shares of a company are considered neither of these. There are fees applied to these types of transactions but they are mostly private and very little in processing/registration with the state.
Now, where he would have paid tax is on the $20 billion dollars of Tesla stock he liquidated to help fund his twitter take over. The rest came from loans and other investors; so again no real tax will be paid until the shares are sold. Both times Capital gains tax is what will most likely get paid.
What state do you live in? Where groceries are taxed?
I can’t have this conversation again
He would pay when selling it – but at this point it will be a huge tax write off – if he could ever find a buyer.🤡
Sales tax? That’s for the pleabs. Let them eat cake!
Cali doesn’t pay sales tax on groceries. Checkmate, Reddit!
/s if it were not obvious.
I don’t know the details of the “sale” — do you?
It could be he bought stock which doesn’t have sales tax.
I’d still love to see him pay some kind of “tax” on this, though.
TIL I’m Elon Musk. Lol
Here in AZ our groceries have 0% sales tax.
I paid about $5,000 when I bought my car…a used car. That means my state has made about $11,000 in sales tax from this one car.
Same thing when they went after Trump and being rich… he didn’t create the tax code he just uses it like Zuckerburg, bloom erg, Oprah, Taylor swift.
How much did P Diddy pay?
Who should we hold accountable for a tax code like that. 12 of the last 16 years have been Democrats.
Also let’s through this in… who signed for billions of government subsidies so upper middle class families can buy Teslas making the ever so hated Elon, billions…
You also have to include the government subsidies he eats up too.
There should be a no exceptions sales tax across the board. Every investment, every repair, every cent spent in this country, should be taxed.
You want to live a lavish life style? You pay for it in taxes. You wanna day trade minute by minute? You’ll pay for it in taxes. The less exception we make, and the more volume of traded goods we include, the cheaper the sales tax will be. No filing at the end of the year. No more loop holes. Just a simple low percentage tax that covers the cost of running gov’t.
And for corperation who think they’re savvy and have their HQ outside the US, your sales tax is doubled. You want access to the highest GDP market in the world? You better be apart of it then.
I mean…yeah? That’s not what sales tax is for. The people who got the money presumably owe capital gains tax either on the sale of the company or sale of the resulting stock. And I don’t know of any state where you pay sales tax on groceries.
41 comments
I paid $0 in sales tax for my groceries. My state doesn’t have sales tax on groceries…
The political discussion was done decades ago.
The owners of this country have the tax code they paid for.
0% sales tax on groceries. I live in California.
Get back to me when there’s a Federal sales tax.
“You hear dat Tone? He said I have a concept of a plan.”
I think the meme needs work. I get the basic gripe but Musks sales tax would be levied on physical property he bought for the business like furniture etc. The tax on the purchase of the business is much more complex. And the tax codes need serious reform.
On a related note, why do I have to pay SALES tax on a car LEASE payment?
Groceries are tax exempt here. Everything else is 6% . If you buy a car in another state pay it off and move here you have to pay 6% of blue book value in tax to get it registered. The question being what stat did he buy it in and what is that state’s sales tax . At 6% that’s $26,400,000 .
Zero dollars despite living in red state.
Gee, I wonder why most of the billions want Trump in office.
Lol look when I’m rich enough to buy a social media platform, I don’t need to pay taxes okay. That’s for you fucks
The French had this discussion in the late 1700’s
Because a business isn’t considered a product or service, but rather an investment. When he bought the shares that gave him control of the company, the people he bought those shares from had to pay capital gains tax (which is too low) on the profit they made from that sale.
Musk will also have to pay capital gains tax if he sells his shares of X to some idiot at a higher price than he paid for it. I’m guessing he’ll take a loss though.
Nobody pays sales tax to buy a company, not just the rich idiot. If you disagree with that get the law changed. City, county, state and federal would all need to change.
Most groceries are also untaxed. I agree with the sentiment but you could find a better example
This is a perfect example of how Americans don’t understand how economics works. Or how buying groceries works.
NY has zero sales tax on groceries with a few exceptions like store prepared foods, candy , soda and pet food
*PAID* –
We don’t NEED groceries. However, imagine how terrible a world with Twitter instead of X!
Hopefully zero since there shouldn’t be tax on food. But I get the idea…
[removed]
*paid
In California, raw groceries are not taxed.
Ib4 sOcIaLiSm
THE PROBLEM: This phenomenon can be directly linked to the vast $$$ the wealthy spend on lobbying
THE SOLUTION: “The Equal But Opposite Initiative” is a crowdfunded and open sourced project aimed at providing a counterweight to the lobbying army of the rich.
We will spend dollar for dollar!!
We will identify and combat legislation which negatively impacts everyday hard American workers and true creators of the value in this country!!
We will reinstate the incentive system which made this country the most innovative in the world!! (And optimize it)
We’ll be as ruthless as they are, hiring only the best wolves in the industry!!
…ok so I just made this up today…Anyone actually have experience getting something like this off the ground? I just work in marketing. 🤷♂️
✌️❤️
You don’t pay taxes when you buy shares of a company, only when you sell at a profit. Elon musk essentially just bought every share of Twitter.
Is someone able to quickly explain how this could be? Is it simply a case of how the tax code is written?
The US financial system is a self-aware monstrosity bent on self-destruction in pursuit of profit. It won’t last.
The 6 or 7 states that charge sales tax on groceries should be ashamed that f themselves
Fuck’s sake man. You pay sales tax when you sell your own car, let alone buy one.
How that doesn’t bother people compared to this is beyond me.
While I agree we should tax the fuck out of the rich there are so many missed nuances here but, the basic reason is because the tax you are talking about is for goods and services the shares of a company are considered neither of these. There are fees applied to these types of transactions but they are mostly private and very little in processing/registration with the state.
Now, where he would have paid tax is on the $20 billion dollars of Tesla stock he liquidated to help fund his twitter take over. The rest came from loans and other investors; so again no real tax will be paid until the shares are sold. Both times Capital gains tax is what will most likely get paid.
What state do you live in? Where groceries are taxed?
I can’t have this conversation again
He would pay when selling it – but at this point it will be a huge tax write off – if he could ever find a buyer.🤡
Sales tax? That’s for the pleabs. Let them eat cake!
Cali doesn’t pay sales tax on groceries. Checkmate, Reddit!
/s if it were not obvious.
I don’t know the details of the “sale” — do you?
It could be he bought stock which doesn’t have sales tax.
I’d still love to see him pay some kind of “tax” on this, though.
TIL I’m Elon Musk. Lol
Here in AZ our groceries have 0% sales tax.
I paid about $5,000 when I bought my car…a used car. That means my state has made about $11,000 in sales tax from this one car.
Same thing when they went after Trump and being rich… he didn’t create the tax code he just uses it like Zuckerburg, bloom erg, Oprah, Taylor swift.
How much did P Diddy pay?
Who should we hold accountable for a tax code like that. 12 of the last 16 years have been Democrats.
Also let’s through this in… who signed for billions of government subsidies so upper middle class families can buy Teslas making the ever so hated Elon, billions…
You also have to include the government subsidies he eats up too.
There should be a no exceptions sales tax across the board. Every investment, every repair, every cent spent in this country, should be taxed.
You want to live a lavish life style? You pay for it in taxes. You wanna day trade minute by minute? You’ll pay for it in taxes. The less exception we make, and the more volume of traded goods we include, the cheaper the sales tax will be. No filing at the end of the year. No more loop holes. Just a simple low percentage tax that covers the cost of running gov’t.
And for corperation who think they’re savvy and have their HQ outside the US, your sales tax is doubled. You want access to the highest GDP market in the world? You better be apart of it then.
I mean…yeah? That’s not what sales tax is for. The people who got the money presumably owe capital gains tax either on the sale of the company or sale of the resulting stock. And I don’t know of any state where you pay sales tax on groceries.