I don’t care how you try to explain it away, in this day and age of tight budgets and runaway deficits, $90,000 per day is way too much to pay an accounting firm for advice on how to cut $4 billion from Ottawa’s budget, particularly since the proposed cuts Deloitte comes up with are unlikely ever to be acted upon[.] [NP]
“Cuts such as those in the House budget resolution would actually increase the deficit by decreasing revenue,” IRS Commissioner Douglas Shulman said to the Senate Appropriations Subcommittee on Financial Services and General Government.
He said the House proposal would cut $2 billion from the agency’s budget next fiscal year. “Cuts of this magnitude would be substantial and affect all of IRS operations,” from answering taxpayers’ questions on the phone to being able to conduct audits, he said. Shulman said that for every dollar invested in the IRS, the agency collects roughly $200 in revenue. [Dow Jones]