Timothy F. Geithner, Jacob J. Lew, Henry M. Paulson Jr., Robert E. Rubin and Lawrence H. Summers, former treasury secretaries under the Obama, Bush, and Clinton administrations, respectively, have made available for download their article, “We Ran the Treasury Department. This Is How to Fix Tax Evasion”, published in The New York Times. The abstract is as follows:
Six hundred billion dollars per year, and growing: That is two-thirds of total nondefense discretionary spending by the federal government, about what is spent on defense operations, military personnel and procurement, and more than mandatory federal expenditures on Medicaid. It’s also approximately how much unpaid taxes cost the U.S. government. This must change, and it can.
Posted by Marin Larkin, Associate Editor, Wealth Strategies Journal.