LEAVING ASIDE THE CRIMINAL ECONOMY

(h/t  Morgan Housel at The Motley Fool)

The IRS estimates that is lost about $300 billion a year over the last decade to "people deliberately cheating on their taxes every year. This includes underreporting income, hidden offshore bank accounts, sham trusts, and other ways to illegally stiff the IRS."

If we could reduce this evasion by just 33%, we'd take in at least an additional $1 Trillion in the coming decade.