The Wall Street Journal editorial team argued that IRS data, which includes tax return information on many of America’s richest individuals, wants to “serve the left-wing agenda”
In a Tuesday article, the board wrote that the leaker to ProPublica was trying to influence the debate on taxes in Congress and to coincide with the left in the Democratic Party’s push for increased taxes on the wealthy, including the implementation of a wealth tax.
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“The ProPublica story is a long argument that the rich are somehow not paying enough. The timing here is not random, buddy,” the board wrote. “Someone at the IRS – or anyone who hacked the IRS – leaked the documents to influence the debate in Congress.”
Senator Ron Wyden, D-Ore., Chairman of the Senate Finance Committee, opened his Tuesday committee hearing mentioning the data dump, the same day the ProPublica article was published. “Just in time,” the board wrote, noting Wyden’s stated obligation to come up with a proposal to ensure the rich “pay their fair share.”
The board also noted that there was no evidence of illegality in the published data and that ProPublica was trying to fabricate a scandal by calculating a “real tax rate” by comparing gains in wealth versus the income tax paid.
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“But wealth and income are different, and what Americans pay is a tax on income, not wealth,” the board wrote, explaining that preferential tax rates on capital gains and dividends have long been supported by top parties.
“This has changed as the political left has risen in the Democratic Party, and Sens. Elizabeth Warren and Bernie Sanders ran for president and called for a new tax on wealth,” it continued. “The political point is that Mrs Warren and Mr Sanders lost. Mr Biden did not drive on wealth tax.”
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“This still leaves the real scandal, namely that someone leaked confidential IRS information about individuals to serve a political agenda,” the board wrote. “This is also the same tax authority that Democrats now want to add $ 80 billion more to chase an imaginative amount of uncollected taxes. As part of that effort, Mr. Biden wants the IRS to collect ‘gross inflows and outflows of all business and personal accounts from financial institutions. ‘Why? So the information can be leaked to ProPublica?’