How to Collect $1.4T in Unpaid Taxes
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Re: How to Collect $1.4T in Unpaid Taxes
#12> Unreported income is the single largest reason that unpaid federal income taxes may amount to more than $600 billion this year, and more than $7.5 trillion over the next decade. It is a truly staggering sum — more than half of the projected federal deficit over the same period. Wow, even managing to collect 100% of these taxes would still result in the US adding 7.5 trillion to the debt.
Not sure where you’re getting that, it’s saying there is more than $600 billion in income going unreported (untaxed).
They said uncollected taxes over the next decade would total 7.5 trillion and that sum would be equal to half the total deficit over the same time period. To me that sounds like the total projected deficit over the next 10 years will be will be 15 trillion (assuming no additional taxes are collected, but 7.5T if 100% were collected)