Americans spend in excess of a half a billion figuring out our income taxes.
The amount of money paid is almost $5 trillion. The reduction in economic activity because we are spending time on taxes has a cost as well.
You can now see why Americans are very open to ending the income tax regime created in America.
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Americans spend $546 billion trying to figure out their taxes.
Because the tax code is 10 million words of incomprehensible legalese. 21 times longer than the Lord of the Rings trilogy.
And if you disobey one word they’ll put you in a cage. pic.twitter.com/TefIx9qhOY
— Peter St Onge, Ph.D. (@profstonge) November 19, 2024
That is why I suggested a federal Sales Tax instead of the income tax. So many advantages to it. One being that everyone has to pay it including criminals who do not file taxes now. The more you spend the more you pay.