Musk’s D.O.G.E. Targets IRS: Budget Cuts Target Taxman
Elon Musk, a D.O.G.E. leader, wants to cut IRS expenditures.
Targeting IRS
Musk and Ramaswamy pledged to eliminate federal agency expenditure by $2 trillion.
D.O.G.E. leaders indicated they will slash bloated or outmoded government agencies' budgets.
Musk remarked, “The IRS is a mess.”
The Tesla CEO suggested a free tax filing app and an audit given the IRS's years of inefficiencies and scandals.
He also wants to cut several personnel to reduce “administrative overgrowth.”
“The IRS requested $20B more. He asked whether its budget should be increased, maintained, reduced, or eliminated.
The survey found that 60.6% wanted to eliminate the IRS budget and 29.9% wanted to cut it.
5.6% supported raising the budget, while 3.9% supported keeping it the same.
Other Agencies Under Fire
Musk and Vivek want to slash government expenditure by reviewing numerous federal agency budgets.
The pair also targets the Consumer banking Protection Bureau, another banking watchdog.
Musk suggested abolishing the CFPB, raising doubts about its future.
The DOGE market cap is $58.9 billion. TradingView.com chart
Vivek desired “mass reductions” in the Education Department. Trump has called for the department's elimination for years, and it seems he will after taking office.
Vivek Wants Defense Budget Cut
Vivek said the Pentagon spends $125 billion on bureaucracy due to its massive budget.
SpaceX's $3.6 billion military contract seems to be excluded from D.O.G.E.'s budget-cutting initiative.
The government efficiency agency may be redundant, according to detractors, who say D.O.G.E.'s tasks overlap with other departments.
DOGE's Role
D.O.G.E. simplifies governance. Musk's role in Trump's administration is shown by the name's reference to Dogecoin. People question how Musk's presence in this area will effect Dogecoin's value and reputation.
After Trump won, Dogecoin's value soared. Musk works for the new administration and has promoted cryptocurrencies.
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