This is the first chapter of the book of wisdom, and sure enough, it is about honesty.

Honesty may be something that you think only exists for the sake of the liars. The liars will gain the benefit as the honest will take the consequences of truth. 

Horrible liars, too, can become honest, but that is when honesty gives more benefit than lies. 

The reason that the wise must be honest, however, is because the wise must understand the consequences and benefits of both lies and honesty. Even if lies give much more benefit and honesty means disastrous consequences, they realize that the truth is what must be told. 

When one truly reaches complete wisdom, they no longer have any reason not to tell the truth. They have nothing to confess about themselves, have committed no unreasonable crimes, and even when telling that Little Timmy was actually dead the entire time to Timmy's family. He knows that his family will eventually know that Timmy is dead, so they might as well deal with it now. 

Just keep this in mind:

Lies are like debit cards. They don't pay for anything, and eventually you have to pay the original price at a higher cost.