Janet Yellen, the esteemed Treasury Secretary, is not one to mince her words, and her simmering fury towards Elon Musk is palpable. She finds herself deeply disturbed by his recent actions concerning the Internal Revenue Service (IRS), where he has dismissed auditors tasked with tackling the staggering trillions lost to tax evasion. For those genuinely invested in curbing America’s monumental $2 trillion budget deficit, such a decision seems painfully clear; maintaining enforcement staff is essential and should be considered a straightforward solution.
Janet Yellen is notably displeased with Elon Musk’s decision to fire IRS auditors, which jeopardises efforts to tackle significant tax avoidance and the $2 trillion budget deficit. She stresses that maintaining these enforcement staff is crucial for meaningful fiscal reform.
In summary, Janet Yellen’s frustration with Elon Musk underlines a critical issue for the nation’s economy. The firing of IRS auditors threatens efforts to combat rampant tax avoidance and undermines initiatives aimed at reducing the expansive budget deficit. Actions that jeopardise vital enforcement capabilities in the IRS contradict any genuine desire to rectify the financial challenges facing the country.
Original Source: www.afr.com
