The invaluable investigate journalism organization ProPublica has started releasing analyses of tax data of wealthy people that it received from a source that reveal in great detail what we have always suspected, that the rich find all manner of ways to avoid paying taxes. Their receipt of this confidential information was likely made possible because of the ways that media organizations created in the wake of the Edward Snowden revelations that enabled sources and whistleblowers to anonymously transmit confidential information to trusted media sources with the media source not knowing where it came from and thus unable to reveal them either accidentally or under coercion.
ProPublica is not disclosing how it obtained the data, which was given to us in raw form, with no conditions or conclusions. ProPublica reporters spent months processing and analyzing the material to transform it into a usable database.
…We then verified the information by comparing elements of it with dozens of already public tax details (in court documents, politicians’ financial disclosures and news stories) as well as by vetting it with individuals whose tax information is contained in the trove. Every person whose tax information is described in this story was asked to comment. Those who responded, including Buffett, Bloomberg and Icahn, all said they had paid the taxes they owed.
This first report is eye-opening.
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