Larry Summers has ‘grave concern’ with the cutback in IRS resources in the debt deal

Former Clinton Treasury Secretary Larry Summers joins Andrea Mitchell to weigh in on the potential economic impacts of the debt limit deal negotiated by President Biden and House Speaker Kevin McCarthy. “Most of the elements in that compromise are broadly reasonable from my point of view. Where I have a grave concern is with the cutback in the resources for the IRS,” says Summers. “I wish the Republicans had not pushed for it so hard and not been so insistent on it, frankly, had not been so demagogic about the IRS and I wish that President Biden and his team had not acceded to it. But overall, this is a good agreement.”


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Larry Summers has ‘grave concern’ with the cutback in IRS resources in the debt deal

#DebtCeiling #Politics #IRS

[judymoore]

Direct the irs to leave poor people alone and go after the super rich.

[lindawales]

The Republicans won on this point too. Defunding the IRS keeps them and their rich friends from getting audited and having to pay their fair share of taxes. Collecting that money would certainly be one way to lower the deficit, but conservatives would rather take it out of the hands of the poor and middle class, whats left of the middle class. Vote them out!

[needk]

The great lengths these Republicans go to to prevent their wealthy donors from paying their fair share.

[anivalwilliams]

You would think Republicans would be hawks on being a tax cheat however it's seems like the rich has them in their pockets

[paulmain]

The government should reduce the coverage of Law and Order from the multi billion $ corporations, since they don't pay for it.

[ljacobs]

Rich Republican donors don't want to pay their taxes.

[mikepauls]

This was no compromise... taking people off food stamps while paying for a gas pipeline is no compromise....

[SomeOne-tksu]

3:28 to 4:30 Very well said 👏 Larry Summers.

[elainedaprano]

Wow! Is Summers actually advocating for taxing the rich? He's right about the problem with IRS but it was a problem in his (SHORT) time in Obama administration! Never heard him bring it up THEN!

[tw]

the goPEE words...ANYTHING FOR THE RICH

[clarencehastings]

The bottom line to most of or a majority of the countries suffering is because the rich aren't paying taxes!!!

[VictoriaDixonPence-xygw]

Very simple solution to problen w IRS...make the billionares and trillionares in this country to Pay Their Fair Share!!!😢

[Juicexlx]

It still part of the Rethuglicans' plan to transfer wealth from the poorest people to the richest ones with allowing them to cheat on their taxes!

[NoisyMayhemInc]

The winner of this years Jon Stewart bow tie award for the thoroughly humiliated and exposed during a lie category
And it was stiff competition with the republicans cosplaying committee of complaints

[icejohnb]

Why isn't he in jail for financial crimes against American citizens?

[rainbow]

What about are homeless that are growing and are getting cuts. So unfare.

[larindanomikos]

1.9 billion from 80 billion? Is that going to break the IRS?

[johnsouza]

Anyone who was against us making the IRS better is and or knows someone doing something sketchy with their taxes. Just saying.

[richardluce]

No one likes taxes but it’s payroll for vets and active military safer air travel better roads and on and on.
Pretty much anyone afraid of more IRS needs to be afraid.

[jaygibson]

Wray in contempt of Congress
Garland obstructing IRS