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.
Lol, go and visit some country with a very low tax rate or no tax. need to visit a hospital? That’s a 3h drive across some unpaved road on the next big city. Want to cook your food? Go and collect some wood for your brick stove, because the city does not provide gas or power to your house. Need water or power? See gas. Want to read a book? Bad luck, there was no free school service in your village to learn how to read. House on fire or crime in the neighborhood? Well I have more bad news for you. Neighboring country does not like you and want to expand into your territory? I wonder what some hillbillies, preppers and tax free conservatives do against a modern army that has aircraft, amour or armed drones.
Perhaps you oughta visit Switzerland some day. Their federal tax rate is 0.77%-11.5%, and canton tax rate varies between 6.5 - 18%. And they’re generally thought of as being one of the most advanced economies with the highest quality of living and health care.
But sure, perhaps that’s not “very low”.
What are you talking about? There is more than one tax, on top of municipal or federal there are taxes for income, products and services, wealth, profit etc. - not just vat.
And tax is not “taken away” from people, it goes back into the economy by building roads and bridges, social care for the elderly so they can afford rent and food, employment and contracts for people working in the region.