IRS Is Investigating Release of Tax Information of Wealthy Americans - WSJ

ProPublica, a nonprofit news organization, published details about the reported income and tax payments of some of the richest Americans

Very low class.

“The big picture is this data shows that the country’s wealthiest, who profited immensely during the pandemic, have not been paying their fair share,” said Sen. Ron Wyden (D., Ore.), the chairman of the Finance Committee.

Strong disagree.

The big picture is that Congress has cashiered the tax system into a massive benefits transfer program filled with onerous complexity.

So Americans hire attorneys and CPAs to use legal tax strategies to reduce their tax liability.

As a result, Members of Congress are shocked and somehow conclude that by following the rules that Congress wrote, those taxpayers cheated?

Want everyone to pay their “fair share?” Enact a flat tax with a standard deduction high enough to exempt low-income Americans.