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(dot) Gov: The Treasury, The IRS, And America's Money
Jan 14, 2025
In this engaging discussion, Richard Rubin, a U.S. tax policy reporter at The Wall Street Journal, and Natasha Saron, a Yale professor and former Treasury counselor, tackle the intricate workings of the IRS and Treasury. They emphasize the complexities of tax collection and federal finance management, debunk myths about the IRS's necessity, and discuss the agency's significant challenges like underfunding and outdated tech. Their insights shed light on how these entities collaborate to shape economic policies and serve the public effectively.
34:31
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Quick takeaways
- The Treasury Department not only manages federal finances and tax collection but also plays a pivotal role in enforcing economic sanctions and international economic dialogue.
- The IRS is undergoing modernization efforts with increased funding, yet struggles with high employee attrition and skepticism regarding its effectiveness amidst a challenging political landscape.
Deep dives
The Fundamental Role of the Treasury Department
The Treasury Department is crucial for managing the government's finances, including tax collection, debt management, and advising the president on economic policies. It oversees various agencies like the IRS, U.S. Mint, and manages federal payments. The department faces complicated challenges in managing an enormous national debt that exceeds $35 trillion and is responsible for enforcing economic sanctions. Its role extends beyond financial management to being a key representative in international economic discussions, influencing global economic settings.
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Discover
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