The complexity of the tax code now costs the economy around $1 trillion per year, according to a report from the Tax Revolution Institute.
Title 26 of the U.S. Code has 74,608 pages and 2.4 million words. The IRS recently added 7.7 million words of tax regulations to help clarify what the code means, as well as 60,000 pages of case law for accounts and tax lawyers.
The report noted that the 32 volumes of the Encyclopedia Britannica is 44 million words in length, which means that the tax code is nearly one-fourth of its length.
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3 comments:
Two words..FLAT Tax..
Will never happen. The wealthy, including Trump, all benefit from the loopholes and legal tom foolery built into the tax code. Who do you think writes this stuff? I am not wealthy by global indices but have enough wealth that I gladly pay accountants and a tax attorney to ensure I minimize my tax liability the the greatest extent possible without violating the law. you don't need to be a multi millionaire to use these strategies but you do need to they exist and be willing to spend a little to save a lot.
227 - yep yep!
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