video Johnston's Tax Cut

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Tax Cheats Are Cheating You

Wednesday, December 14, 2011 - 01:04

The U.S. government is letting fraud artists slip through its ''meticulous'' fingers. David Cay Johnston breaks down the impact massive tax evasion is having on the economy and the American household.

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All around the world economies are really in the tank but there is one business that is growing like gangbusters. White collar financial crimes. It turns out that tax invasion worldwide is about 5%. Of the total global -- About three trillion dollars plus that people are not paying taxes Leo and 11% -- is right here in the United States of America. Why twelve congress keeps restraining the budget of the Internal Revenue Service. Which has far fewer auto workers and tax collectors than it did twenty years ago. And it's been very slow getting technology to catch tax -- Now why should you care that people are cheating on their taxes well it means you have to pay more in taxes figure 5% more. On top -- that it means the services the government asked to provide to make modern economies work our constraint. That's because we don't have enough money and tax cheats are big reasons.

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