Politics

As Biden Seeks Tax Hikes, Thousands of Private Tax Returns Leaked to Left-Wing Media

AMAC Exclusive

Tax

Earlier this month, left-wing internet publication ProPublica revealed that it had obtained “a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years.” The data, the outlet explained, includes “not just their income and taxes, but also their investments, stock trades, gambling winnings and even the results of audits.”

The extraordinary violation raises a host of questions – including who exactly was willing to break the law to disclose the confidential financial records of thousands of private citizens, why they did so, and whether this breach indicates a larger problem of politicization at the IRS.

As many commentors noted, the timing of the unprecedented leak was highly suspicious, coming as it does as Joe Biden and Democrats in Congress push to raise taxes on Americans by making the case the “wealthy” do not pay their “fair share.”

ProPublica claims they intend to use the data to release a series of articles over the next several months revealing, in detail, the personal filings of many Americans. Presumably this will be in the service of the larger political point being made by the Biden administration.

Last week, Treasury Secretary Janet Yellen professed deep concern over the release of these confidential tax returns. She referred to the matter as “a very serious situation” and revealed that it was being investigated by the Treasury Department. Both sides of the political aisle have called for probes to be immediately launched.

During a radio appearance on the Hugh Hewitt show earlier this week, Senate Majority Leader Mitch McConnell directly accused the IRS of being involved in the leak. He stated, “My guess is the IRS, somebody at the IRS leaked this in order to affect the tax debate and remind people that there are some very wealthy Americans…. But it’s important to remember we don’t tax wealth.”

McConnell also made it clear that any involved individuals would be facing serious legal consequences if caught. While there is no evidence yet that a member of the IRS was responsible for the leak, the agency’s record of politicizing the tax code is unfortunately well established.

In 2013, the IRS apologized after being caught targeting conservative organizations with intense scrutiny that often denied them tax exempt status for years at the height of the Tea Party movement. The agency was identifying conservative-leaning groups seeking non-profit status, and forcing them to disclose “donor rolls,” Facebook posts, and even “asked what books people were reading.” Groups that refused risked losing their protected status while even those that complied faced long delays and excessive scrutiny.

In the first release of its series based on the new leaks of individual tax returns, ProPublica alleges that the wealthiest Americans pay almost nothing in income taxes to the federal government. They accuse the wealthiest 25 Americans of only paying 3.4% in taxes. They also provide specific details of individuals, including Warren Buffet, who, they state, pays a tax rate of .10% percent. If true, this is a far cry from the 37% top marginal tax rate. However, many have raised questions as to ProPublica’s methodology and how they define wealth.

Last week, the Wall Street Journal blasted the organization’s analysis, citing major flaws in the report’s conclusions. The Journal points out that ProPublica is skewing the data by comparing the taxes paid by an individual to their total estimated wealth. This is how they arrived at the “3.4%” number. Taxes are based on an individual’s annual income, not their total wealth. In effect, ProPublica is attacking wealthy Americans for not paying a “wealth tax” that does not exist. A wealth tax was introduced in March by Senators Elizabeth Warren and Bernie Sanders but has not advanced.

Treasury Secretary Yellen has assured lawmakers on Wednesday that they will be kept abreast of any developments. Yet, she clarified that little progress has been made: “We’re only one week out on this, and I really want to emphasize we do not know what happened…don’t have any facts at this point.” 

 

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Ron
2 months ago

Need to go after the editors at the news organizations that spread the information. Anyone should have been able to tell it was illegally obtained. Hold them accountable!

Chris S
2 months ago

Charge and prosecute the one(s) who released the tax returns and the ones who passed them along. There should be consequences to their illegal activity.

Lee S McQuillen
2 months ago

How many people actually understand a complicated tax return, other than accountants, CPA’s, and tax people? Very few most likely. Any end figures are just nothing really. How much did they give in donations, for example. This reduces the tax owed. What loses did they incur? What business expenses reduced the income. Etc., etc., etc. This is another reason why tax returns should never be released to the general public. And it’s actually a breach of contract between the taxpayer and the IRS as well as an invasion of privacy.

Mark L
2 months ago

How the heck can tax returns just leak out to the Pubic hands? Wake up Americans your lifestyle is being taken away!
IMPEACH BIDEN/HARRIS!
I personally would like to see President Trump back in Office to straighten everything back to the core way of running OUR Country not the Politicians! You people work for US and the Majority are fed up with the constant Drama that plagues us!

Peggy
2 months ago

So Sanders and Warren had someone at IRS leak this information to sway public opinion. They should be charged for this crime and also the IRS leakers.

Terrence L Zehrer
2 months ago

This is what happens with criminal activity like that of Lois Learner goes unpunished.

Jack Thomas
2 months ago

The I.R.S. leak of tax returns on wealthy citizens is an egregious violation of federal law and was obviously politically motivated. Of course, the timing is highly suspicious as noted in this article, since Biden and his minions seek to advance the argument that the rich don’t pay their “fair share” of taxes. What exactly do liberals consider their “fair share” of money they never helped the rich to earn?

Stephan
2 months ago

Why is pro publica even able to do anything with this information? It’s stolen property. That’s like saying if you came into possession of a car someone else had stolen, you could drive it all you wanted-even use it to make money. It’s stolen and should all be returned.

Frznk
2 months ago
Reply to  Stephan

Because libs don’t have to obey the law!

Dr.C
2 months ago

The Biden criminal cabal needs your money for his invited guests from central America for their free housing, food and entertainment.

lindylou
2 months ago

call me cynical maybe but I’m wondering whether there are any leftist, liberal democrat politicians on the leaked IRS tax returns? I would bet not.

CaRepub
2 months ago

The issue here is much bigger than taxes. It is the intentional targeting of individuals and the release of personal and private information. There is not a single person reading or responding to this article that wants, deserves or should be violated in this manner just as those with wealth should not be violated. The trouble is with the tax laws plain and simple. And anyone who thinks, regardless of how a tax increase is structured, that the “rich” will carry the burden, you either were born yesterday or a fool. Much like the tragedy of oil workers losing their jobs, a simple fill up of your vehicle’s gas tank will show you those workers aren’t the only one’s paying for the decisions of the morons currently destroying the country. Can we hold on long enough and hope our election process actually rights the ship? Or is it too late?

RICHARD BEAL
2 months ago

when mitt romney ran for president he paid 13% on his millions income while I paid 10% on less than 21,000 dollars

CaRepub
2 months ago
Reply to  RICHARD BEAL

So that’s unfair how? Just by the numbers, because we can only deal with the information you provided, I assume those are personal income tax figures. Personal income tax pays for public services such as emergency services, public infrastructure, public spaces, public schools, etc. So by your numbers, he paid 3% more than what you paid for the same items and services. Just because someone has the ability to make more money than you doesn’t mean in a country that claims to treat all men equal that they need or should carry a monetary burden for that.

Peter K
2 months ago
Reply to  CaRepub

In actuality it is not 3% more, it is 30% more. Regardless of the numbers, the underlying issue is how the tax code is written to extract as much as possible from as many as possible and there are a lot more in the so-called middle than on the top. All the rich are doing is taking advantage of a mot so well thought out tax code and rules. Here’s a personal example of how the rich pay less based on poorly written “rules”. The following is a real example. Middle-class person A purchases property (land) for $500,000 in 2006 at the all-time height of the market with the intention of building on it. As the years pass the original intention is no longer feasible and the market for property (land) crashed to the point the value dropped to 45% of the original purchase price. When sold, the “real loss” can only be taken as a $3,000 annual deduction from earnings, not tax liability. So, in practical application, it would take 91.6 years of deductions to offset the real loss. Reverse the transaction, and the $275,000 “gain” would have to be paid in the year it was earned. The wealthy on the other hand get to swap, trade, divest of this property and pay little to no tax in the year it occurred. That’s one reason why the rich get richer….they have high-end financial advice following their every move. And what the rich are doing is nothing more than taking advantage of a bad system. A flat tax on ALL earnings for all individuals and corporations regardless of its source would change this in a New York minute and it would most likely never have to be more than 10% for anyone. No deductions of any kind allowed, just a simple 10%. Good luck with that! LOL! And the big bonus, just think how few IRS workers we would need then! LOL!

PIDL
2 months ago
Reply to  RICHARD BEAL

13% of $1 million is $130,000. And this says he made millions! That is a little more than the $2100 he had to pay. Where do these people get their information? And why can they not interpret that information correctly?They obviously have not been taught how to do percentages!

Mark L
2 months ago

Great article!
It’s too bad the General Public likely won’t hear about this move until it’s already done!
I have a question about what income brackets are they referring to?
I personally know that In order to claim Poverty Income you have to be somewhere in the $10k to $15k per year range. I think that’s rediculous! I’d love to see any politicians live on that income single or with a family you just can’t! There is no possible way to make ends meet and enjoy life and the little things like a beef steak once a week or month. It just angers me so when I hear DemocRATS mention they will tax the wealthy at higher tax rates, I have news for you people who make a couple hundred thousand a year are now struggling to feed, clothe and educate themselves or their children’s College costs. They drop down to the lower middle income bracket! In my opinion people like Bill Gates, Zuckerberg,Cuban and most of the Democratic Party make millions off tax payers backs so unless the Biden Mafia admits this they are part of the problem. Only the ones who are indoctrinated vote for such a laughable budget and tax increases candidate! Biden squashed over a half million jobs in the U.S. alone with a stroke of the pen!
I pray everyday for Trump to be back in the White House and soon very very soon!

Rich
2 months ago

Everyone is over looking the biggest issue of the wealthy not paying enough taxes. All the loop holes in our laws and the tax code. If these are in place raising taxes will not help. The loop holes will be used to avoid the increased tax.

David P Nelson
3 months ago

These people are just using the current Tax Code to their benefit. The only fair solution is to revise the Tax Code.

CPOBill
3 months ago

Bet no demorats are mentioned.

Mark L
2 months ago
Reply to  CPOBill

DemocRATS are included!
Search ANY POLITICIAN’S NET WORTH AND YOU WILL BE SHOCKED!

Walter
3 months ago

I wonder if all the money Joe Biden got from China was reported and properly taxed? Biden and the left are destroying our country, especially the middle class. They just keep printing money and giving it away to so many foreign countries. Stop giving our hard earned money away to these countries, We do not owe them anything. Take care of our home front first and I don’t mean giving it to illegal aliens, and if these is a little money left over, decrease our taxes. America is the most generous country in the world, we do not need to keep giving our money away year after year. Investigate the Biden’s NOW! We know they are liars and corrupt, taking money from our enemies like China, and they have undermined American integrity. I am sure you won’t have to look far to find other Dem politicians in the same corrupt boat as Biden.

Jerome
2 months ago
Reply to  Walter

Exactly

Phyl
3 months ago

And the government says we should trust them? Give us a good reason why we should trust them.

Hal
2 months ago
Reply to  Phyl

I list all the possible reasons we should trust them below:
1.
2.
etc.

D.P.
3 months ago

Ms Yellen is not doing her job. Not only should a probe be set in motion, but these admitted (Propublica) law breakers ought to be under arrest NOW! This is politics, pure and simple. Any other IRS chief would see heads roll…..inside their organization and elsewhere, by application of the law.
This is superbly ridiculous…forst for it to have happened at all, and secondly for such a lame response, of being deeply concerned over this serious situation. What marlarky….You can rest assured, if these tax payer’s records have been accessed, so can mine….so can anyone’s. Now the IRS will become another arm in the fight to ruin anyone who does not sing along and dance along with the current administration.. What next????.

Victoria Johnson
3 months ago
Reply to  D.P.

You say, “Any other IRS chief would see heads roll”. Have you never heard of Lois Lerner, Barack Obama’s IRS chief? ALL our government agencies have been weaponized to go after the regime’s political opponents. These same policies and procedures, begun under Barack Obama, are now being carried out in his ‘third term’ through his proxy, Joe Biden.

Brokengirl55
2 months ago
Reply to  D.P.

The reason that this was attempted successfully it’s because when the Democrats are in charge there are no repercussions for bad acts. Anyone outside their party they can apply the law to but their own, law doesn’t apply. I believe we’re all in for a rude awakening and when it comes to the IRS. I read that Biden wants to hire 87,000 new IRS agents. God only knows what he’s going to do to us with those individuals.

Rush Glick
2 months ago
Reply to  D.P.

There is a “What next” DAILY in the brave new world in which we now find ourselves.

Judy
3 months ago

Nothing explains genetically stupid better than anyone who supports this traitorous regime! They don’t even care if they make sense or not! One can point out their genuine stupidity and they can’t even understand your plain language. These people are as foreign as anyone who speaks a different language. I’m just calling this time we’re living in ‘The Era of Stupid! What makes them so stupid is not recognizing their own policies will eventually come back to bite them in the a$$. And of course being the Devil’s advocates, they’ll face God’s wrath. Just pray that God is intervening and will squash these vile enemies.

Ed J
2 months ago
Reply to  Judy

Genetically stupid? That is giving these folks way too much credit!

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