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Tax Evasion by Small Business Department of the Treasury Treasury Form

Tax Evasion by Small Business Department of the Treasury Treasury Form

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BILLIONS OF DOLLARS ARE NOT COLLECTED SIMPLY FROM LACK OF ENFORCEMENT. MY NEXT GUEST IS ONE OF THE FIVE FORMER TREASURY SECRETARIES WHO SAYS THEY KNOW HOW TO STOP THIS MASSIVE PROBLEM. JACK LEW SERVED AS TREASURY SECRETARY IN THE OBAMA ADMINISTRATION. SECRETARY, THANK YOU FOR JOINING ME. YOU SAY THERE IS A SOLUTION TO THIS. WHAT IS IT? >> IT’S GOOD TO BE WITH YOU, STEPHANIE. YOU KNOW, THE REALITY IS THAT IF YOU DON’T AUDIT TAXES, IF YOU DON’T HAVE ENFORCEMENT RESOURCES, YOU DON’T HAVE ANY COPS ON THE BEAT. FOR THE LAST 25 YEARS WE’VE SEEN THAT THE AMOUNT OF RESOURCES AVAILABLE FOR TAX ENFORCEMENT HAS DROPPED BY 50%. IT WAS A BIG ISSUE IN DEALING WITH CONGRESS OVER THESE YEARS. WE COULDN’T GET THE MONEY APREPARE YAD.APROEP APPROPRIATED APPROPRIATED. AND WE KNEW WE WERE LOSING A LOT OF REVENUE. UNDER CURRENT LAW WE’RE LOSING ABOUT $7 TRILLION OVER TEN YEARS BECAUSE PEOPLE AREN’T PAYING, FIRMS AREN’T PAYING WHAT’S REQUIRED. IF YOU PUT A FEW SMALL NUMBERS ON IT, THERE A

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