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millions, in sales, or profit distributions, they are on the honor system. so tell me deputy secretary, how is the honor system working right now? it is not working well, senator. as you know, the top 1% of earners in america underpay their taxes by more than 150 billion dollars each year. almost two trillion dollars over the course of ten years. more than 150 billion dollars a year, is lost by these top earners. and that is exactly why congress is considering a simple new third-party reporting requirement. small businesses have been putting together deputies for their employees every year for a zillion years. don t tell me that the banks can t do this. senator, those who don t seek to pay their fair share will go to no lengths to try and avoid taxation. and that is exactly what we see

Honor systemProfit distributionsDeputy secretaryKyrsten sinemaTop 1America underpay150 billion dollars150 billionReporting requirementI don tThose who don tZillion years