Could DOGE End Individual Income Taxes and Eliminate the IRS?

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Could DOGE End Individual Income Taxes and Eliminate the IRS?

^{Published on 2025-02-09 03:22:21 - NextBigFuture}

The Department of Government Efficiency has the objective of cutting government spending by $2 trillion per year out of $6.8 trillion in spending. This is

The article from NextBigFuture discusses a speculative scenario where the cryptocurrency Dogecoin (Doge) could potentially disrupt traditional tax systems, particularly the individual income tax and the IRS. It explores the idea that if Dogecoin were to become widely accepted as a form of payment for goods and services, and if its value were to increase significantly, it might lead to a situation where people could earn income in Dogecoin, thereby avoiding traditional tax structures. The piece suggests that with the rise of cryptocurrencies, governments might face challenges in taxing digital transactions, potentially leading to a decline in the need for an IRS-like institution. However, the article also acknowledges the complexities involved, including regulatory hurdles, the stability of cryptocurrencies, and the potential for new forms of taxation or regulation to emerge in response to these changes. The overall tone is speculative, highlighting both the possibilities and the significant obstacles to such a transformation in the tax system.

Read the Full NextBigFuture Article at:
[ https://www.nextbigfuture.com/2025/02/could-doge-end-individual-income-taxes-and-eliminate-the-irs.html ]

N@N

Could DOGE End Individual Income Taxes and Eliminate the IRS?