this post was submitted on 23 Mar 2025
467 points (98.7% liked)

Economics

676 readers
68 users here now

founded 2 years ago
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 16 points 2 days ago (1 children)

Because conservatives have been trying to kill social security since its inception. It shouldn't really be in any danger of insolvency, barring conservative sabotage. A trivial search finds many articles about this: https://www.forbes.com/advisor/retirement/social-security-bankrupt/

If pushing taxation down to the state level makes a project impossible to do, then perhaps that project should not have been done to begin with.

This is clearly pants on head stupid. Postal service. Interstate transit systems. Weather forecasting. Just off the top of my head.

And again, one more time, you haven't backed up your initial claim that "Taxation is theft".