From ProPublica's Big Story <[email protected]>
Subject Secret IRS Files reveal how much the ultrawealthy gained by shaping Trump’s “big, beautiful tax cut”
Date August 11, 2021 12:30 PM
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Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.

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The Big Story
Tue. Aug 10, 2021

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Secret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut” <[link removed]> Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed. by Justin Elliott and Robert Faturechi

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The Number of People With IRAs Worth $5 Million or More Has Tripled, Congress Says <[link removed]> After ProPublica revealed that some wealthy Americans hold Roth IRAs worth hundreds of millions — compared to $39,000 for the average account holder — Democrats requested data. It shows more than 28,000 people with IRAs worth $5 million or more. by Justin Elliott, James Bandler and Patricia Callahan <[link removed]>

Democratic Senators Call for Investigation of Tax Avoidance by the Ultrawealthy <[link removed]> Calling ProPublica’s Secret IRS Files series a “bombshell,” Sens. Elizabeth Warren and Sheldon Whitehouse demanded an investigation into how the rich use “legal tax loopholes to avoid paying their fair share of income taxes.” by Jesse Eisinger, Paul Kiel and Jeff Ernsthausen <[link removed]>

The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes <[link removed]> Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers. by Robert Faturechi, Justin Elliott and Ellis Simani <[link removed]>

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The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax <[link removed]> 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. by Jesse Eisinger, Jeff Ernsthausen and Paul Kiel <[link removed]>

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You May Be Paying a Higher Tax Rate Than a Billionaire <[link removed]> A new ProPublica analysis of a trove of IRS documents revealed that the richest 25 Americans pay a tiny fraction of their wealth in taxes. But even if you use the most conventional yardstick — income — the wealthiest still pay low rates. by Paul Kiel, Jeff Ernsthausen and Jesse Eisinger <[link removed]>

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Why We Are Publishing the Tax Secrets of the .001% <[link removed]> We are disclosing the tax details of the richest Americans because we believe the public interest in an informed debate outweighs privacy considerations. by Stephen Engelberg and Richard Tofel <[link removed]>

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