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.
Don’t use a money they can print. Use gold.
Oh my. Really, go open a history book. Look at what the gold standard did to limit our economy. Look up why Fort Knox existed at that time. Look how big it would have to be today, and understand there isn’t that much gold in the entire world.
There is enough gold in the world for everybody to have an equal amount. You can divide gold down to one one thousandth of an ounce of gold with current technology, which is plenty small enough to work with.