Happy Tax Day?
In honor of Tax Day, the Washington Examiner has published a great piece with some numerical facts about the U.S. tax system. Here are just a few:
Nationwide, the number of hours spent filing individual and business income taxes, according to the Taxpayer Advocate Service
Upper estimate on the annual accounting and economic costs involved in tax filing, according to the Mercatus Center. The lower estimate is $215 billion a year
Portion of total federal revenue that comes from income taxes. Corporate income taxes are the next largest source, at 34%
Average number of hours spent preparing an individual income tax return, according to the Taxpayer Advocate Service’s 2008 Annual Report to Congress
Read the whole thing here .
Tax Day is anything but a day worth celebrating. If anything, it only serves as a reminder at our constantly ballooning federal government. It seems that the bigger the government, the more complicated our tax code is. Obamacare is the perfect example; many Americans endured even more tax headaches this year thanks to the government takeover of healthcare.
Here’s the simple truth: our tax code is unfair and out of control. It punishes good behavior and rewards bad. And, despite the government’s record tax revenue, our national deficit is only growing more. Americans need, and deserve, real tax reform.
- 1- Rusell, Jason. Tax Day by the numbers. http://washingtonexaminer.com 15 April 2015.