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IRS braces for $500bn drop in revenue as taxpayers skip filings in wake of DOGE cuts (www.independent.co.uk)
submitted 5 days ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Summary

The IRS anticipates a $500 billion revenue loss as taxpayers increasingly skip filings following cuts from Elon Musk under Trump.

The IRS, set to downsize by 20% by May 15, has seen increased online chatter about avoiding taxes, with individuals betting auditors won’t scrutinize accounts.

Experts warned that workforce reductions could cripple the agency's efficiency.

Treasury officials predict a 10% drop in tax receipts compared to 2024.

Former IRS commissioners have criticized the cuts, warning of dysfunction and reduced collection capacity.

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[-] shortwavesurfer@lemmy.zip 2 points 5 days ago* (last edited 5 days ago)

That's kind of the point. We don't need a functional government because we don't need government at all. Governments want us to think we need them when we do not.

https://www.youtube.com/watch?v=fZ0Qkhnt6bQ

[-] Madison420@lemmy.world 9 points 5 days ago

That's immensely dumb and highlights a basic misunderstanding of government.

this post was submitted on 23 Mar 2025
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