$500B in Lost Tax Revenue? Unlikely, Cato Scholar Says

What You Need To Know

• Unnamed officials have told the Washington Post that they expect a $500 billion drop in tax revenue due to mass IRS job cuts.
• The gap between taxes owed and taxes paid has remained stable over time, Cato's Chris Edwards says.
• Cutting IRS staff will cause taxpayer service problems but won't lead to a new wave of tax cheating, he predicts.