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[inaudible conversations] [inaudible] [inaudible conversations] [inaudible conversations] [inaudible conversations] the finance committee will come to order. This morning the finance committee is going commissioner Charles Rettig and their annual hearing the typically ends the taxis in however 2021 is no typical year. Theres lots to talk about it and im going to start with the tax gap the difference between taxes owed and what is collected. Even the most conservative estimates the annual tax gap put it in the hundreds of billions of dollars a year. My own view is the annual tax gap is at least double the official estimate. The most recent official estimate said the tax gap is 381 billion a year but if we look back to data from 2011 through 2013, that means the estimates are out of date as soon as released. The fact is our economy is expanding. In 2111 bitcoin didnt buy you a ham sandwich. Todays crypto currencies and other tech colleges. Huge opportunities for the tax cheats to rip off
GeorgiaUnited-statesMontanaTexasWashingtonWhitehouseDistrict-of-columbiaCaliforniaTogoOregonKansas-cityKansasTop story here in the uk an raf helicopter is helping to protect a town in derbyshire in danger of flooding. Now on bbc news, Asia Business report. Jumps new tariffs hit markets. Shares, oil and the dollar slide as the us president announces fresh levies on china trumps tariffs. Admission to bangkok. How the uk is hoping to line up post brexit trade deals in asia. Good morning and welcome to this friday edition of Asia Business report, live from singapore, with me, mariko 0i. Lets start with the trade war. As you have been hearing on newsday, the us president has announced fresh 10 ta riffs president has announced fresh 10 tariffs on another 300 billion of chinese products from the start of next month. It is the latest move in the escalating conflict between the worlds two august economies and comes worlds two august economies and co m es after worlds two august economies and comes after a new round of talks this week showed no signs of a significant breakthrough. The announcement is h
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