Treasury Secretary Janet Yellen calls estimated $7 trillion tax gap ‘shocking and distressing’

This is a news report where the comments to the story are written by people who have a better understanding of the issue than the subject of the story – Treasury Sec. Janet Yellen and the economists that produced a study in 2019.

Treasury Secretary Janet Yellen is calling on the wealthy to pay their fair share of taxes and to close the tax gap by improving tax compliance and audits.

“It’s really shocking and distressing to see estimates suggesting that the gap between what we’re collecting in taxes on current tax and what we should be collecting — if everybody were paying for taxes that are due — that amounts to over $7 trillion over a decade,” Yellen said during the Atlantic’s Future Economy on Tuesday. “We’re trying to make meaningful steps to close that gap.”

Source: Treasury Secretary Janet Yellen calls estimated $7 trillion tax gap ‘shocking and distressing’