Trump and Musk’s DOGE purge sees 6,700 IRS staff fired
- Thread starter daniels27
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| Index/ETF | Mar 31 Close | Apr 30 Close | % Change |
|---|---|---|---|
| S&P 500 | 5,611.85 | 5,569.06 | -0.76% |
| Nasdaq 100 | 19,278.45 | 19,544.95 | +1.38% |
| Nasdaq Composite | 17,299.29 | 17,446.34 | +0.85% |
| Dow Jones | 42,001.76 | 40,669.36 | -3.18% |
| Russell 2000 | 2,011.91 | 1,964.12 | -2.38% |
| Shanghai Composite | 3,335.75 | 3,279.00 | -1.70% |
| CSI 300 | 3,775.83 | 3,770.57 | -0.14% |
| Hang Seng | 23,119.00 | 22,783.00 | -1.45% |
| KWEB ETF | 32.10 | 31.80 | -0.93% |
I think people are buying into clickbait clowns and CCP propaganda. Remember all the talk early April? lol. It stayed flat or even small ups.
I would personally not use the stock market as a barometer of economic wellness. It is easily manipulated i.e Trump social media posts as we seen in past volatility or CCP sovereign wealth funds buying up Chinese shares to support the market etc.
I would look at more empirical economic data such as the contraction in GDP (-0.3% in first quarter) and debt issuance etc.
I would look at more empirical economic data such as the contraction in GDP (-0.3% in first quarter) and debt issuance etc.
Most people in the UK get taxes deducted at source (PAYE) unsure why America doesn't have a similar system... if you overpay tax you can claim it back at the end of the Year, i myself was on a PAYE system until 2012 and routinely charged back 5-15k a year based on them taxing you on bonuses / commissions heavily during the year, its a simple process, with some management for some careers/roles, otherwise for most people very simple.
Well us congressman are all former lawyers who think for their own community how to minimize taxes for those clients who︀ pay them. The lawyers in USA are called ambulance chasers for a reason. TV ads︁ are full of them advertising all the time for lawsuits for every little thing.
If true, this is wild, firing 6,700 IRS staff right before tax season? Sounds more like a political purge than a policy move. Abolishing the IRS completely?
That’s either genius or chaos, depending on what replaces it. Let's see how serious they are about it.
That’s either genius or chaos, depending on what replaces it. Let's see how serious they are about it.
CNBC: IRS loses nearly 1 in 3 tax auditors
all those firings and still same numbers of returns processed:
https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-april-25-2025
At the House Appropriations subcommittee hearing on Tuesday, Bessent said “collections” were among his IRS priorities. But he expects to meet revenue goals via “smarter IT” and the “AI boom” rather than via “unseasoned collections agents.”
“I would expect that collection would continue to be very robust,” he said.
President Donald Trump’s fiscal 2026 discretionary budget request called for a nearly︀ $2.5 billion IRS budget cut to end the “weaponization of IRS enforcement.”
IRS taps some employees to work mandatory overtime to handle backlog
“Everything is a mess. People︁ are sick all the time,” the employee said. “A lot of people are despondent.”
will have to work eight hours of mandatory overtime on the weekends of Saturday, May 10︂ and Saturday, May 17 smi(&%
First time I hear public employees working "hard" 😛
all those firings and still same numbers of returns processed:
https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-april-25-2025
At the House Appropriations subcommittee hearing on Tuesday, Bessent said “collections” were among his IRS priorities. But he expects to meet revenue goals via “smarter IT” and the “AI boom” rather than via “unseasoned collections agents.”
“I would expect that collection would continue to be very robust,” he said.
President Donald Trump’s fiscal 2026 discretionary budget request called for a nearly︀ $2.5 billion IRS budget cut to end the “weaponization of IRS enforcement.”
IRS taps some employees to work mandatory overtime to handle backlog
“Everything is a mess. People︁ are sick all the time,” the employee said. “A lot of people are despondent.”
will have to work eight hours of mandatory overtime on the weekends of Saturday, May 10︂ and Saturday, May 17 smi(&%
First time I hear public employees working "hard" 😛
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