handmade.social

0 posts0 participants0 posts today

Zhi Zhu 🕸️How DOGE’s Cuts to the IRS Threaten to Cost More Than DOGE Will Ever Save <a href="https://www.propublica.org/article/how-doge-irs-cuts-will-cost-more-than-savings-trump-musk-deficit" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.propublica.org/article/how-doge-irs-cuts-will-cost-more-than-savings-trump-musk-deficit</a>"cutting the <a href="https://newsie.social/tags/IRS" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#IRS</a> means the <a href="https://newsie.social/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#government</a> collects less <a href="https://newsie.social/tags/taxes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#taxes</a>. “If you’re interested in the <a href="https://newsie.social/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> and curbing it, why would you cut back on the revenue side?” one expert asks...“By firing us, you’re going to cut down on how much <a href="https://newsie.social/tags/revenue" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#revenue</a> the country brings in,” Nershi said in an interview. “This was not about saving <a href="https://newsie.social/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a>.”"<a href="https://newsie.social/tags/Musk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Musk</a> <a href="https://newsie.social/tags/Coup" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Coup</a> <a href="https://newsie.social/tags/Corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Corruption</a> <a href="https://newsie.social/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> <a href="https://newsie.social/tags/Fascism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Fascism</a> <a href="https://newsie.social/tags/GOP" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#GOP</a> <a href="https://newsie.social/tags/USPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USPol</a> <a href="https://newsie.social/tags/News" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#News</a> <a href="https://newsie.social/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USA</a>

Nonilex<a href="https://masto.ai/tags/Musk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Musk</a> says the goal is to achieve a $1 trillion <a href="https://masto.ai/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> reduction by 2026. During the 2024 campaign, Musk said “I think we can do at least $2 trillion,” so he has already abandoned half of his promise from the campaign. 🤣“Is anybody unhappy with Elon?” <a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> asked. “If you are, we’ll throw him out of here.” Nervous laughter rippled through the room as <a href="https://masto.ai/tags/cabinet" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cabinet</a> members started to clap.“President Trump has put together the best cabinet ever,” Musk says.<a href="https://masto.ai/tags/USpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USpol</a> <a href="https://masto.ai/tags/Cabinet" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Cabinet</a> <a href="https://masto.ai/tags/thread" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#thread</a>

Nonilex<a href="https://masto.ai/tags/Musk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Musk</a> said the federal <a href="https://masto.ai/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> challenges America’s stability, which many on both sides of the aisle would agree with. But the cuts he has been making in taking his “chain saw” approach to <a href="https://masto.ai/tags/FederalAgencies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FederalAgencies</a> would still be a drop in the bucket. The vast majority of federal spending goes to <a href="https://masto.ai/tags/SocialSecurity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SocialSecurity</a>, <a href="https://masto.ai/tags/Medicare" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Medicare</a>, <a href="https://masto.ai/tags/Medicaid" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Medicaid</a> & the <a href="https://masto.ai/tags/military" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#military</a>, which Trump has *vowed* to protect—though he backed the House budget that cuts Medicaid among other programs including <a href="https://masto.ai/tags/Veterans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Veterans</a> services.<a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> <a href="https://masto.ai/tags/USpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USpol</a> 🧵

Zhi Zhu 🕸️Acting IRS Commissioner Is Expected to Announce His RetirementDoug O’Donnell, a 40-year veteran of the IRS, was elevated last month after the last commissioner stepped down at the beginning of Trump’s term. <a href="https://www.nytimes.com/2025/02/24/us/politics/acting-irs-commissioner-retire.html" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.nytimes.com/2025/02/24/us/politics/acting-irs-commissioner-retire.html</a>"departure comes at a turbulent time... w/ore than 6,700 employees dismissed last week. <a href="https://newsie.social/tags/Musk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Musk</a> has suggested the <a href="https://newsie.social/tags/IRS" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#IRS</a> should be abolished... deployed a member of his so-called <a href="https://newsie.social/tags/DOGE" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#DOGE</a> to the agency...moves that <a href="https://newsie.social/tags/tax" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#tax</a> experts warn could increase the <a href="https://newsie.social/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a>"<a href="https://newsie.social/tags/News" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#News</a>

NonilexWith ~100k staff members before the <a href="https://masto.ai/tags/layoffs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#layoffs</a>, the <a href="https://masto.ai/tags/IRS" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#IRS</a> is responsible for collecting >$5T in revenue every year. Pres <a href="https://masto.ai/tags/Biden" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Biden</a> provided billions in new funding to the agency in hopes of modernizing its technology & beefing up its ability to go after <a href="https://masto.ai/tags/corporations" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#corporations</a> & <a href="https://masto.ai/tags/wealthy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#wealthy</a> people who do not pay the <a href="https://masto.ai/tags/taxes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#taxes</a> they owe.<a href="https://masto.ai/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> is rapidly reversing those efforts, in moves that experts warn could increase the <a href="https://masto.ai/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> by making it easier for people to avoid paying.<a href="https://masto.ai/tags/law" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#law</a> <a href="https://masto.ai/tags/USpol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USpol</a> <a href="https://www.nytimes.com/2025/02/24/us/politics/acting-irs-commissioner-retire.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=E1CAACC3-09A0-4865-ACFB-B5BB84A27ED6" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.nytimes.com/2025/02/24/us/politics/acting-irs-commissioner-retire.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=E1CAACC3-09A0-4865-ACFB-B5BB84A27ED6</a>

Paul SchoeThere is no <a href="https://mastodon.world/tags/US" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#US</a> <a href="https://mastodon.world/tags/trade" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#trade</a> deficit with the European Union.There is a deficit in shipped products. But trade is more than just shipping items. A lot of the trade is currently for services. Examples are hosting, advertising, software such as Gmail, online consulting + hundreds of other digital services.When you consider those, the trade with Europe is not a <a href="https://mastodon.world/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> but a <a href="https://mastodon.world/tags/surplus" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#surplus</a>.But Trump wants Americans to be angry. Truth doesn't matter. It is about riling up the people.<a href="https://mstdn.social/@GottaLaff" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@GottaLaff</a> <a href="https://mastodon.world/tags/EU" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#EU</a>

Michael MarekSure, Trump wants to eliminate the debt ceiling. It's to make it easier to skyrocket the deficit, again. <a href="https://universeodon.com/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> <a href="https://universeodon.com/tags/Politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Politics</a> <a href="https://universeodon.com/tags/Deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Deficit</a>

Claude TrudelLe déficit et la dette nette du Canada : comparaisons avec les autres pays du G7 🔸 Déficit : 2 % du PIB / France 6 %, USA 7,6 % 🔸 Dette nette : 14,4 % du PIB / France 155,8 %, USA 104,1 % 🔸 Bref : le Canada bénéficie d’une situation enviable par rapport aux autres pays du G7 <a href="https://www.ledevoir.com/economie/826234/deficits-sont-air-temps" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.ledevoir.com/economie/826234/deficits-sont-air-temps</a> <a href="https://jasette.facil.services/tags/Canada" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Canada</a> <a href="https://jasette.facil.services/tags/finances" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#finances</a> <a href="https://jasette.facil.services/tags/d%C3%A9ficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#déficit</a> <a href="https://jasette.facil.services/tags/dette" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#dette</a> <a href="https://jasette.facil.services/tags/G7" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#G7</a> <a href="https://jasette.facil.services/tags/France" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#France</a> <a href="https://jasette.facil.services/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USA</a> <a href="https://jasette.facil.services/tags/Allemagne" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Allemagne</a> <a href="https://jasette.facil.services/tags/UK" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#UK</a> <a href="https://jasette.facil.services/tags/Japon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Japon</a>

jorikiHow to Cut $2 Trillion in Federal Spending Without Breaking a SweatAs James Galbraith put it years ago, "It's the interest rate, stupid."<a href="https://infosec.exchange/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://infosec.exchange/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://infosec.exchange/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://stephaniekelton.substack.com/p/how-to-cut-2-trillion-in-federal" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://stephaniekelton.substack.com/p/how-to-cut-2-trillion-in-federal</a>

VEGA🔴 Bruno Le Maire bientôt auditionné à l'Assemblée nationale pour rendre des comptes - Son bilan : 1000 milliards de dettes supplémentaires en 7 ansL'ancien ministre de l’Économie et des Finances est auditionné ce jour au Sénat. Il sera ensuite auditionné par la commission des finances de l'Assemblée nationale, transformée en commission d'enquête à l'initiative de son président et député LFI, Eric Coquerel.« Le problème de fond c'est l'échec sur les déficits, l'emploi, l'industrie, et en plus sans prévisions fiables ! C'est l'échec d'un système. Au-dessus de Bruno Le Maire, c'est Emmanuel Macron le responsable. »L'insoumission<a href="https://t.me/L_insoumission" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://t.me/L_insoumission</a>> L’insoumission est la plateforme multimédia d’actualités de la France insoumise. Retrouvez nos articles, vidéos, éditos et directs sur <a href="https://linsoumission.fr" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://linsoumission.fr</a> <a href="https://veganism.social/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://veganism.social/tags/deficitPublic" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficitPublic</a> <a href="https://veganism.social/tags/stopMacron" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#stopMacron</a> <a href="https://veganism.social/tags/LFI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#LFI</a>

MugsysRapSheet 🔩🐑🐘🧵(8/) <a href="https://mastodon.social/tags/Obama" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Obama</a> turned "Dubya"s disastrous economy around and <a href="https://mastodon.social/tags/Unemployment" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Unemployment</a> fell to 4.6% (down from 10.0% soon after taking over from Bush-43.)When T**** managed to defeat <a href="https://mastodon.social/tags/Hillary" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Hillary</a> and took over as president, he made NO CHANGE to Obama's economic policies other than "cut <a href="https://mastodon.social/tags/taxes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#taxes</a>" & "cut interest rates"… two things you do to goose a BAD economy.The economy was hot, but his massive tax cuts caused the <a href="https://mastodon.social/tags/Deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Deficit</a> & <a href="https://mastodon.social/tags/NationalDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#NationalDebt</a> to explode.When <a href="https://mastodon.social/tags/Covid" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Covid</a> crashed the economy, he was left w/no recourse.

Trey Hunner 🐍I'm reading the book The Deficit Myth, which is on Modern Monetary Theory and how MMT postulates that the deficit isn't paid for by tax payers, that taxes exist largely to create demand for dollars, and that paying off the deficit would be a bad idea.This all has me thinking of the Johnny Cash song "What is Truth?"I assumed for years that the US federal deficit was a concern... I'm now in the "I don't know what I know" phase of understanding the deficit. 🤔<a href="https://mastodon.social/tags/economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economics</a> <a href="https://mastodon.social/tags/mmt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#mmt</a> <a href="https://mastodon.social/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a>

Eric Maugendre<a href="https://a.gup.pe/u/economics" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@economics</a> <a href="https://a.gup.pe/u/economics-that-works" class="u-url mention" rel="nofollow noopener noreferrer" target="_blank">@economics-that-works</a> 🧵For societies that retain for themselves currency sovereignty, anything that is technically feasible, is affordable.Demonstration by Peter Cooper (2021): <a href="https://heteconomist.com/the-core-significance-of-taxation-and-currency-sovereignty-in-a-nutshell/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://heteconomist.com/the-core-significance-of-taxation-and-currency-sovereignty-in-a-nutshell/</a><a href="https://mas.to/tags/debt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#debt</a> <a href="https://mas.to/tags/deficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#deficit</a> <a href="https://mas.to/tags/sovereignty" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#sovereignty</a> <a href="https://mas.to/tags/money" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#money</a> <a href="https://mas.to/tags/centralBanks" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#centralBanks</a> <a href="https://mas.to/tags/currency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#currency</a> <a href="https://mas.to/tags/MMT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#MMT</a> <a href="https://mas.to/tags/power" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#power</a> <a href="https://mas.to/tags/wealth" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#wealth</a> <a href="https://mas.to/tags/settlements" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#settlements</a> <a href="https://mas.to/tags/transactions" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#transactions</a> <a href="https://mas.to/tags/policy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#policy</a> <a href="https://mas.to/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#government</a> <a href="https://mas.to/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#politics</a> <a href="https://mas.to/tags/economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#economy</a> <a href="https://mas.to/tags/policies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#policies</a> <a href="https://mas.to/tags/climatePolicies" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#climatePolicies</a>

Recent searches

Search options

Administered by:

Server stats:

#deficit