There is no doubt in my mind that the corrupt Biden regime, under the direction of a cadre of progressive communist democrat Obamacons, has been pushing for higher taxes on “billionaires” as part of its class warfare scheme to bring about another schism dividing Americans into haves and have-nots.
So, pardon my cynicism when I ask if the Obama/Biden regimes deliberately leaked privileged IRS data to the leftwing ProPublica, which purports to be “a nonprofit newsroom that investigates abuses of power.”
And why was this piece published on April 13, days before the traditional April 15 deadline for filing federal income taxes? Could it be a distraction from the revelation that the regime has screwed you?
Do you really care?
America’s Highest Earners And Their Taxes Revealed (April 13, 2022)
Secret IRS files reveal the top US income-earners and how their tax rates vary more than their incomes. Tech titans, hedge fund managers and heirs dominate the list, while the likes of Taylor Swift and LeBron James didn’t even make the top 400.
Which people and professions rake in the most income year after year? Which are most adept at shielding that money from the taxman? And what does this tell you about America?
The top earners, of course, are often fodder for lists — but those are usually based on estimates or even speculation.
A trove of IRS data obtained by ProPublica has the definitive answers, revealing the incomes and tax rates of the 400 Americans with the highest incomes from 2013 to 2018. It took an average of $110 million per year in income to crack that list — with plenty of names you would expect and some that may surprise you.
We’ll also show how much the 400 paid in federal income taxes. (ProPublica is naming the 15 highest income earners, along with an assortment that represent income patterns that we’ve identified.) <Source>
The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax (June 8, 2021)
ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing.
In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.
Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row.
ProPublica has 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 provides an unprecedented look inside the financial lives of America’s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg. It shows not just their income and taxes, but also their investments, stock trades, gambling winnings and even the results of audits.
Taken together, it demolishes the cornerstone myth of the American tax system: that everyone pays their fair share and the richest Americans pay the most. The IRS records show that the wealthiest can — perfectly legally — pay income taxes that are only a tiny fraction of the hundreds of millions, if not billions, their fortunes grow each year.
Many Americans live paycheck to paycheck, amassing little wealth and paying the federal government a percentage of their income that rises if they earn more. In recent years, the median American household earned about $70,000 annually and paid 14% in federal taxes. The highest income tax rate, 37%, kicked in this year, for couples, on earnings above $628,300.
The confidential tax records obtained by ProPublica show that the ultrarich effectively sidestep this system. <Source>
$2,121,987,000,000: Federal Tax Collections Set Record Through March
The federal government collected a record $2,121,987,000,000 in total taxes through the first six months of fiscal 2022 (October through March), according to the Monthly Treasury Statement.
This also marked the first time that federal tax collections have exceeded $2 trillion in the first half of a fiscal year.
Prior to this year, the most taxes the federal government ever collected in the first six months of a fiscal year was in fiscal 2021, when the Treasury collected $1,849,508,090,000 in taxes (in constant March 2022 dollars) in the October-through-March period. <Source>
I find it grossly dishonest to publish raw tax data. One, because it does not reveal the circumstances under which tax obligations are legitimately deferred or eliminated; and two, all of the tax avoidance, not evasion, schemes were enabled by corrupt legislators who sold their vote to lobbyists when crafting tax legislation.
While you should have no particular sympathy for those who have amassed wealth, either through inheritance, judicious investments, hard work, or simply luck, neither should you display animosity as those individuals use their wealth to purchase goods and services, not to mention re-investing in enterprises which benefit millions of individuals.
Please don’t believe it, folks! Any tax purported to be levied only on billionaires and large corporate entities has a mysterious path to middle-income and low-income citizens.
The only thing the poverty-pimps and social justice warriors can offer is equality of misery where everybody suffers under an oligarchy of the politically-connected uber-wealthy.
We are so screwed.
“Nullius in verba.”-- take nobody's word for it!
“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell “Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar “Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell
“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar
“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS