1A (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debunk myths about the IRS's necessity, and discuss the agency's significant challenges like underfunding and outdated tech.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.
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Treasury's Responsibilities
- The Treasury Department manages the country's finances, including payments and the federal debt.
- It also advises the president on economic policy and represents the U.S. in global economic settings.
Barbara's Tax Reminder
- A listener, Barbara, shared how the show reminded her to pay quarterly taxes, avoiding penalties.
- This highlights the direct impact of the Treasury's work on Americans' financial lives.
Treasury's Broad Impact
- Besides taxes, the Treasury impacts American lives through financial regulation and economic sanctions.
- It oversees various bureaus, including the Mint and the Office of the Comptroller of the Currency, influencing economic functions.