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Cory Booker@CoryBooker · Mar 18, 2025

Elon Musk isn't going to save the government any money. It's the opposite, in fact. He's currently pursuing a move…

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Summary

Elon Musk's proposal to cut IRS workforce in half would cost the federal government $2.4 trillion in lost tax revenue over 10 years by making it easier for billionaires to evade taxes while increasing wait times for regular taxpayers' refunds and audits. The move prioritizes wealth protection for the ultra-rich over fiscal responsibility and middle-class financial wellbeing.

Summarized by ThreadOut AI from the full thread. May miss nuance — read the thread below.

  1. #1

    Elon Musk isn't going to save the government any money. It's the opposite, in fact. He's currently pursuing a move that could blow a multi-trillion-dollar hole in the federal budget and let billionaires get away with tax evasion. Here's how 🧵

  2. #2

    Musk is proposing to cut the IRS workforce in half. What does this mean for you? Your refund will take longer to hit your account and you'll have a harder time resolving issues. What does this mean for billionaires? They'll be able to cheat on their taxes more easily.

  3. #3

    The top 1% of earners are responsible for nearly 30% of unpaid taxes. This number will skyrocket if Musk has his way. A 50% cut in the workforce + a substantial increase in noncompliance could mean lost revenues of $2.4 trillion/10 years, according to the @The_Budget_Lab.

  4. #4

    Trump's IRS might still do audits, but they won't have the time or expertise to go after sophisticated tax cheats with complex filings and armies of lawyers and accountants. Instead, they may be more likely to go after you.

  5. #5

    As you gather your W-2s, 1099s, and receipts this tax season-carefully entering your data, paying what you owe, or awaiting your refund-remember: Musk, the world's richest person, is gutting the IRS's ability to hold him and other ultra wealthy people accountable–he is making it easier to game the system and cheat.

  6. #6

    Trump and Musk don’t care about fiscal responsibility and they certainly don't care about the wellbeing of middle-class taxpayers. They’ll further rack up the deficit by making it easier for billionaires to cheat on their taxes—then come back and demand cuts to your healthcare to fix the budget mess they made. This is why we fight. And another example of their corruption: making things worse for America and more profitable for them.