USA: Do I still file federal taxes if the federal government collapses?

[shdwdrgn@mander.xyz]

Tesla has sold quite a lot, yet paid almost nothing in taxes. So obviously it doesn't work that way for "everyone".

https://itep.org/tesla-reported-zero-federal-income-tax-in-2024/

[bombomom@lemmy.world]

Tesla is not Musk, yes companies are taxed differently than individuals. Notably by profit, not income.

Musk paid $11b in capital gains tax when he sold, that is how capital gains taxes work for everyone. Same as you and me.

[piccolo@sh.itjust.works]

You and me cant use those unseen capital gains as collateral to buy a propaganda machine.

[piccolo@sh.itjust.works]

I would love for the IRS go rogue and take out the mob boss at the top like the good old times.

[bombomom@lemmy.world]

Buy an index fund (ex: VTI) and sit on it for a few years. You too will have capital gains.

[piccolo@sh.itjust.works]

What with? My emerald mine money?

[cowbee@lemmy.ml]

A bit silly to go for VTI over VT, the US is in decline and international is accelerating.

[cowbee@lemmy.ml]

No, not every nation is Capialist. That's a misunderstanding of what Capitalism is or a redefinition of it to the point of uselessness as it becomes over-applied.

[ryathal@sh.itjust.works]

They can't go over the people with a 300 page tax return that uses past paper losses to cover any actual income. They already automated enforcement of w2 based income.

[annafrankfurter@lemmy.ml]

Yes even if you are dead you have to file taxes