Elon Musk’s D.O.G.E. Targets The IRS: Taxman In The Crosshairs Of Budget Cuts

The newly established Department of Government Efficiency (D.O.G.E.), led by Elon Musk and Vivek Ramaswamy, aims to slash federal spending by $2 trillion. D.O.G.E. targets agencies deemed bloated or outdated, including the IRS, which Musk views as inefficient and scandal-ridden. Musk suggests reducing IRS funding and eliminating administrative positions. The IRS has requested $20 billion in additional funding, but a poll conducted by Musk indicates that a majority of respondents support reducing or eliminating its budget. D.O.G.E. also plans to scrutinize the budgets of the Consumer Financial Protection Bureau (CFPB) and the Department of Education, with Ramaswamy advocating for mass reductions in the latter. Musk expresses concern over the Pentagon's alleged $125 billion annual waste in bureaucracy. Critics question the overlap between D.O.G.E. and existing agencies. D.O.G.E. aims to improve government efficiency, and Musk's involvement has sparked speculation about its potential impact on Dogecoin's value. Reports suggest that discussions of D.O.G.E. during campaign meetings have influenced Dogecoin's price, demonstrating a link between political events and the meme coin market.