as you may know, the top 1% of earners in america underpay their taxes each year by over $150 billion. investments that congress is making in the irs will help us capture that money to pay for things like the child tax credit that is included in this package that will help the parents of over 60 million children to continue to provide their churn children with an education and as they continue going forward. parts of the bill that include tax increases target those people who can afford to pay the most. the wealthy and corporations. that s why the president and secretary yellen have focused on negotiating an international tax deal that would mean we would level the playing field for international tax so that american companies can no longer ship jobs abroad in order to lower the taxes but rather will be required to invest here at home. that will be difficult to
Transcripts for MSNBC The Last Word With Lawrence ODonnell 20211020 02:59:15 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
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