Kent Conrad: “I understand, 10-year numbers. But we are talking about 5-year numbers of $439 billion. Let me say, if they can do that…”

“I understand, 10-year numbers. But we are talking about 5-year numbers of $439 billion. Let me say, if they can do that, these extraordinary numbers, and we combine not only tax gap with tax havens and with abusive tax shelters, I believe we could easily get that $439 billion. Again, the President said his budget would produce $14.8 trillion in revenue. We are saying $15 trillion. That is a 1.2-percent difference. Finally, this is from the Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations: Experts have estimated that the total loss to the Treasury from offshore tax evasion alone approaches $100 billion per year. I rest my case.”