Sen. Bernie Sanders (I-VT) has slammed Elon Musk-led Tesla Inc. (NASDAQ:TSLA), Palantir Technologies Inc. (NASDAQ:PLTR), as well as Live Nation Entertainment Inc.‘s (NYSE:LYV) Ticketmaster, claiming that the companies did not pay any federal income taxes despite making billions of dollars.
Paid Zero Federal Income Taxes
In a post on the social media platform X on Tuesday, the senator shared that the companies like Tesla, Ticketmaster and Palantir last year “made billions of dollars in profits, but paid ZERO in federal income taxes,” he said. He then asked whether President Donald Trump “will address this outrage at his SOTU address?” Sanders expressed doubt over it happening, though.
According to Palantir’s annual report, the company reported a U.S. income of $1.5 billion in the fourth quarter, as well as $4.4 billion in yearly revenue, but paid 0 federal income taxes and paid over $2.5 million in state taxes using research and development credits, among other things.
Tesla, too, paid zero federal income taxes. Tesla was criticized by Sen. Elizabeth Warren (D-Mass), who questioned whether it was fair for the company to enjoy such breaks. The company also received over $1.1 billion in federal income tax breaks.
Live Nation also reported paying no income taxes, citing provisions under Trump’s One Big Beautiful Act. The company reported an income of over $145 million. “There was no cash paid for United States federal income taxes as we generated a taxable loss for…2025 due to the provisions allowed within the One Big Beautiful Bill Act,” the company said in its annual report.
Wealth Tax
The comments come as California Governor Gavin Newsom (D-Calif.) had said that the proposed one-time 5% wealth tax on individuals with net worths above $1 billion does not make sense, expressing concern over such a bill. The proposal was chasing over 900,000 signatures.
Meanwhile, Sanders has been a vocal proponent of taxing the wealthiest people in the country, slamming Musk and other billionaires, including Larry Ellison, Mark Zuckerberg, Peter Thiel and others for not paying their “fair share of taxes.”
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