Subterranean Or Underground Economy: Hearings Before a Subcommittee of the Committee on Government Operations, House of Representatives, Ninety-sixth Congress, First Session, September 5 and 6, 1979

Front Cover
"Our study of noncompliance estimates that individuals did not report $75 billion to $100 billion of 1976 income in the legal sector of the economy, resulting in a revenue loss of approximately $13 billion to $17 billion. In addition, individuals engaged in narcotics, illegal gambling, and prostitution are estimated to earn $25 billion to $35 billion on which the revenue loss may range from $6 billion to $9 billion. The broad outlines of some significant aspects of the report are in the four tables and the chart which I have attached to my statement. The report confirms that voluntary reporting is very high where incomes are subjected to withholding. Voluntary income reporting is lower where incomes are subject to information document reporting and even lower where incomes are subject to neither withholding nor information document reporting"--Page 1.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Other editions - View all

Common terms and phrases

Popular passages

Page 126 - For the purpose of this paper, the term will be defined as an illegal act or series of illegal acts committed by nonphysical means and by concealment or guile, to obtain money or property, to avoid the payment or loss of money or property, or to obtain business or personal advantage.
Page 59 - Means; the Subcommittee on Commerce, Consumer and Monetary Affairs, House Committee on Government Operations; and the Subcommittee on Oversight, House Committee on Ways and Means.
Page 226 - The Honorable Benjamin S. Rosenthal Chairman Subcommittee on Commerce, Consumer and Monetary Affairs Committee on Government Operations US House of Representatives Washington, DC 20515 Dear Mr.
Page 125 - White collar crime may be defined approximately as a crime committed by a person of respectability and high social status in the course of his occupation.
Page 88 - Chairman of the Federal Tax Division of the American Institute of Certified Public Accountants...
Page 15 - A small amount of illegal-source incomes are included in the figures below. These inclusions will not significantly affect the percentages shown in the right-hand column.
Page 211 - BEFORE THE SUBCOMMITTEE ON COMMERCE, CONSUMER, AND MONETARY AFFAIRS OF THE HOUSE COMMITTEE ON GOVERNMENT OPERATIONS ON FEDERAL ACTIONS IN DEALING WITH CONTAMINATED IMPORTED WINES Mr.
Page 124 - The subcommittee stands adjourned. [Whereupon, at 11:50 am, the subcommittee adjourned, to reconvene subject to the call of the Chair.] APPENDIXES APPENDIX 1.— REIMAR LUST, PROFESSOR, DIRECTOR GENERAL, EUROPEAN SPACE AGENCY, LETTER TO HON.
Page 140 - The Contribution of Survey Research to Public Finance,
Page 168 - However, the appeal procedures do not extend to cases involving solely the failure or refusal to comply with the tax laws because of moral, religious, political, constitutional, conscientious, or similar grounds. Organizations such as labor unions and trade associations which have been examined by the district director to determine the amounts expended by the organization for purposes of lobbying, promotion or defeat of legislation, political campaigns, or propaganda related to those purposes are...

Bibliographic information