Here comes the depression

[Javaman]

Tax revenue could drop by 10 percent amid turmoil at IRS

https://www.msn.com/en-us/money/taxes/tax-revenue-could-drop-by-10-percent-amid-turmoil-at-irs/ar-AA1Bs7Yp

Treasury Department and IRS officials are predicting a decrease of more than 10 percent in tax receipts by the April 15 deadline compared with 2024, said the people, who spoke on the condition of anonymity to share nonpublic data. That would amount to more than $500 billion in lost federal revenue; the IRS collected $5.1 trillion last year. For context, the U.S. government spent $825 billion on the Defense Department in fiscal 2024.

More at link

[underpants]

1. Drowning the government in a bathtub while using social media to do it.

The IRS has dropped investigations of high-value corporations and taxpayers, according to several agency employees involved in those inquiries, because it’s had to triage resources to keep internal systems operating. Two agency commissioners have resigned since Trump took office. The IRS’s head of compliance, Heather Maloy, stepped down effective Friday.

The IRS has noticed an uptick in online chatter from individuals declaring their intention to not pay taxes this year or to aggressively claim credits and deductions for which they are ineligible, three of the people said — wagering that auditors will not examine their accounts.

[Blue Full Moon]

2. Financial news outlets warned about before the election

[DeeDeeNY]

3. The number 1 reason for Doge

Is to make up for all the $$ lost by Orangina including the trillions of dollars in revenue to be lost from the proposed tax cuts for the wealthy.
Doge has gone about this by taking their proverbial chainsaw and slashing through funding for vital programs and removing valuable, experienced workers while insisting they're cutting out fraud and waste. They provide no details or backup to their lies but appear to be getting away with this.