Economist Explains Why DOGE Cuts to the IRS Will Backfire

The IRS already fails to collect $700 billion a year, but the tax gap could get a lot worse if DOGE follows through with a plan to cut the agency's workforce in half, according to Natasha Sarin, Professor at Yale Law School & Co-Founder/President of The Budget Lab at Yale. Sarin estimates that if headcount at the IRS is cut by 50%, then the government would lose $400 billion on uncollected taxes over the next decade. Sarin also discusses the inequities in the tax system and how more investment, not destruction, can help fix the IRS. ----Sarin is also has a secondary appointment at the Yale School of Management in the Finance Department. Previously, she served as deputy assistant secretary for economic policy and later as a counselor to Treasury Secretary Janet Yellen.https://x.com/NatashaRSarinHosted by https://x.com/kylascan----The content of the video is for general and informational purposes only. All views presented in this show reflect the opinions of the guest and the host. You should not take a mention of any asset, be it cryptocurrency or a publicly traded security as a recommendation to buy, sell or hold that cryptocurrency or security. Guests and hosts are not affiliated with or endorsed by Public Holdings or its subsidiaries. You should make your own financial and investment decisions or consult respective professionals. Full disclosures are in the channel description. Learn more at Public.com/disclosures.Past performance is not a guarantee of future results. There is a possibility of loss with any investment. Historical or hypothetical performance results, if mentioned, are presented for illustrative purposes only. Do not infer or assume that any securities, sectors or markets described in the videos were or will be profitable. Any statements of future expectations and other forward-looking statements are strictly based on the current views, opinion, or assumptions of the person presenting them, and should not be taken as an indicator of performance nor should be relied upon as an investment advice.