this post was submitted on 23 Mar 2025
473 points (98.8% liked)

Economics

690 readers
183 users here now

founded 2 years ago
473
IRS braces for $500bn drop in revenue as taxpayers skip filings in wake of DOGE cuts (www.independent.co.uk)
submitted 1 week ago by [email protected] to c/[email protected]
143 comments fedilink hide all child comments
 

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] 18 points 1 week ago* (last edited 1 week ago) (2 children)

X.

I was just at the grocery store; normal eggs are $10/dozen in Central California, where we have a lot of egg operations.

[–] [email protected] 1 points 1 week ago (1 children)

4 to 8 bucks in Oakland, oddly enough, Safeways where all the mega price hikes are. You'd figure a general grocery store would have less but I guess the other spots buy local

[–] [email protected] 1 points 1 week ago (1 children)

Merced here, we're smack in the middle of Cowlifornia, so I would've guessed our prices would come down first. I've seen local grocers here deadass selling loosies for a dollar. Wild that you guys are coming down before us, but I'm glad to see it.

[–] [email protected] 1 points 1 week ago

That is weird, could be dependant on preexisting contracts or possibly bulk orders

[–] [email protected] 1 points 1 week ago (1 children)

Here in Indiana eggs are $4-$5/dozen

[–] [email protected] 1 points 1 week ago

$4 greater boston area.

I'm paying $4500/mo on my mortgage. I don't give a fuck about egg prices. I give a fuck about the impending crash that is going to cost so many jobs. I give a fuck about my wife with a permanent resident card who if she leaves I have no idea if she'll ever come back - assuming they don't just strip her of it.

I have real fucking problems. Egg prices aren't one of them.