ProPublica’s Release of Leaked Tax Return Data for Billionaires: Why Wall Street’s Mega Banks Are Freaking Out | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

ProPublica’s Release of Leaked Tax Return Data for Billionaires: Why Wall Street’s Mega Banks Are Freaking Out

Last Tuesday, June 8, at 4:59 a.m. EDT, the public interest news outlet, ProPublica, dropped a bombshell. A source unknown to it had leaked “a vast trove of IRS data on the tax returns of thousands” of the richest Americans, including the top 25 billionaires in the country as of 2018. The data covered numerous years of tax filings and showed that some of the most well known billionaires in the U.S. had paid no income taxes in some years.

Carefully reading through the ProPublica material, a few critical details emerge. First, ProPublica does not appear to have tax return data for years later than 2018. Since it’s now June of 2021, that suggests that someone in the Trump administration might have downloaded this data to a thumb drive and waited until recently to leak it. ProPublica acknowledges that it’s had the data for “months,” as its reporters attempted to analyze the data and verify its authenticity.

Someone in the Trump camp might be attempting to normalize billionaires not paying taxes. The New York Times had obtained Donald Trump’s tax returns last year and published an article in September showing that he had “paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”

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