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After billionaires and not the average taxpayer. >> anywhere they may be getting w-2, that is not what we're talking about here, they are reporting their income. we're talking about people who are high net worth individuals who are not paying taxess they owe. something we think everybody believes should happen and can help pay for range of important investments to make us more competitor. >> greg: katie, federal government, fraud, they want to look at your account, i want to look at yours. >> katie: this policy proves that this narrative they have been trying to sell for two weeks about the bi...

Let me help you with an accurate description of what is actually happening here and there was a statement by the secretary of treasury on exactly this. she said in this statement just to reiterate it, she deeply appreciates the work of chairman wyden and chairman neal's leadership on reconciliation and in particular, the need to close the tax gap. this is reported to the irs and are opaque income sources which frequently avoid scrutiny while wages and federal benefits are typically subject to full compliance. so people who get w-2s whether they are teachers or firefighters or employees at fox ...

Finances, but that is exactly what janet yellen wants to do. her plan to crack down on rich billionaires? letting the irs spy on your bank account. it makes no sense. >> if you earn a paycheck, you get a w-2, the irs knows about it, but high income individuals with opaque sources of income that are not reported to the irs, there's a lot of tax fraud and cheating that's going on. >> jesse: nobody believes that. average americans are not the problem here. crooked elites like hunter biden are the problem. we already know he is under federal investigation for tax fraud and chinese money laundering...

Weekend and in wilmington, i believe. so do we know who he's talking to or any of that? >> he talked to democrats, and sot bills might not be ready until tax season, which means with w-2's in january. so it could be many months. neil: that raises an interesting possibility, too, lucas, that some of the tax increases coming, are they going to be retroactive? are they yus going to take place in the new year, assuming anything at that comes to pass, a hearing. >> a lot of assumptions, neil, we have to wait and see, unfortunately. we'll be glued to when congress comes back next week. >> lucas toml...

Because you get a w-2 form. it comes in the mail every year the irs gets that information as well. your taxes get deducted from your paycheck, and you pay what is owed beyond that. but that's not how it works for people with tens of millions of dollars. they play by a different set of rules and they're often not employees themselves. so the irs can't see what they make. where is it written that all the tax breaks in the american tax code go to corporations and the very top? i think it's enough. i'm tired of it. >> i think it's enough. i'm tired of it. like i said, there is a lot at stake in th...