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Subterranean Economy / Part III #55029

ABC Evening News for Wednesday, Jul 05, 1978
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(Studio) Spec. report on subterranean economy where all transactions are carried out in cash, no records are kept and no taxes paid. Tax revolt sentiment in some songs, like one by Johnny Cash, noted. Song, "After Taxes", played.
REPORTER: Harry Reasoner

(NYC) Growth in taxpayers' interest in getting out of tax payments described. [Econ. Raymond DeVOE - compares tax situation in United States to earlier days of prohibition.] Details given about number of people who are listed as unemployed but have unreported jobs conducted in cash. Reluctance of government officials to discuss matter evidenced by refusals for interviews from Treasury and Commerce Depts., Federal Reserve Board, council of econ. advisers and IRS. [City University of New York professor Peter GUTMANN - says no single method can solve problem and that it cannot fully be solved.] Comment made on need to bring subterranean economy under control; potential situation compared to that in Brazil and France.
REPORTER: Dan Cordtz Commentary

Cordtz, Dan;
Reasoner, Harry

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