While the nation sinks deeper into debt, the rich keep evading taxes
The Internal Revenue Service headquarters in Washington, D.C.. - Chip Somodevilla/Getty Images North America/TNS

A new Treasury Department report finds that the United States is losing $163 billion per year because of tax evasion by the top 1% of earners. The story is mind-numbingly familiar: phenomenally rich people finding new and creative ways to boost their wealth even more by cheating the rest of the responsible, taxpaying public. The $163 billion that the richest 1% evade annually accounts for a whopping 28% of all unpaid taxes by Americans, according to the report by Natasha Sarin, deputy assistant Treasury secretary for economic policy. That total lost revenue accounts for 3% of gross domestic pr...