Twitter is facing accusations of inconsistency after allowing the sharing of a ProPublica report containing the leaked private tax information of billionaires, after it censored a New York Post story containing emails from Hunter Biden on the grounds that the information was “private.”
ProPublica did not reveal how it obtained the IRS records of the billionaires, who include Warren Buffett, George Soros, and Jeff Bezos. Under U.S. law, unauthorized disclosure of a person’s tax records is illegal.
The ProPublica story reveals that global billionaires who reside in America often pay little to no income tax, keeping the majority of their wealth in assets, which are only subject to capital gains tax when sold.
The ProPublica report reveals, for example, that billionaire progressive philanthropist George Soros paid zero income tax in the United States in 2016, 2017, and 2018.
I’m not sure it was worth whoever leaked this info going to prison in order to reveal mainly that you don’t pay capital gains taxes on stocks until you sell them. https://t.co/8qgMGihjaY
— James Surowiecki (@JamesSurowiecki) June 8, 2021
“I’m not sure it was worth whoever leaked this info going to prison in order to reveal mainly that you don’t pay capital gains taxes on stocks until you sell them,” wrote author James Surowiecki on Twitter.
IRS Commissioner Charles Rettig has said the leak is being investigated both internally and externally.
So on what basis should BigTech have censored the NYPost story on Hunter Biden’s emails, but allow free sharing of the ProPublica tax report?
I don’t think either should be censored … I’m just wondering about BigTech’s distinction.
— Andy Grewal (@AndyGrewal) June 8, 2021
“So on what basis should BigTech have censored the NYPost story on Hunter Biden’s emails, but allow free sharing of the ProPublica tax report?” asked law professor Andy Grewal. “I don’t think either should be censored … I’m just wondering about BigTech’s distinction.”
In its report, ProPublica made no secret of its motivations — to influence the ongoing debate about raising taxes.
“The revelations provided by the IRS data come at a crucial moment,” wrote ProPublica. “Wealth inequality has become one of the defining issues of our age. The president and Congress are considering the most ambitious tax increases in decades on those with high incomes. But the American tax conversation has been dominated by debate over incremental changes, such as whether the top tax rate should be 39.6% rather than 37%.”
Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.
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