CNBC Says Pay Your "Fair" Share (Mises Economics Blog)
Sunday April 17th, 2011
Just in time for tax filing day, CNBC ran its hour-long special “The American Tax Cheat” hosted by Squawk Box’s Becky Quick last night four times. And the re-runs will no-doubt be constant. The tone of the special is extraordinarily one-sided. Ms. Quick (or her producers) must feel that all of our money belongs to the government and that the IRS should determine how much of it we can keep to live day-to-day.
Quick sternly tells viewers that those “swindling the IRS” are creating a tax gap of $300 billion each year. And that this swindling is not a victimless crime. Those that pay, make up for those that don’t, an average of $2,200 per person each year. The gap is the difference between what the IRS believes should be rolling in and what actually does. But if those that pay are making for those who don’t, why is there a gap?