The Rooster
"Okeydoke"
Andrew Ross Sorkin is reporting in the New York Times today, there is enormous tax fraud that has been allowed to exist that when collected will net trillions into the USA treasury. It would pay the bills for the support programs during the COVID-19 health emergency.
There are hundreds of billions in unreported taxes. A 2019 I.R.S. analysis estimated that Americans reported less than half of all income that wasn’t subject to verification like a W-2, meaning that lots of business profits, rent and royalties go untaxed. That’s the largest reason that unpaid federal income taxes may amount to more than $600 billion this year, and more than $7.5 trillion over the next decade.
"Tax Evasion at the top of the income distribution theory and evidence" (click here)
