Complexity of the Tax Code

Last Updated by WikiWealth | Update This Page Flag this page Delete This Page

rating: 0+x

The US tax code is extraordinarily complicated. According to the Economist, "it takes 3.8m skilled workers toiling full-time, year-round, just to handle the paperwork." "By this measure, the tax-compliance industry is six times larger than car-making." Over 80% of tax payers must pay for help in order to fill out the tax forms.

Efforts to simplify the tax code are met with a bevy of special interest groups that favor each individual change. The typical loophole has passionate defenders, but no one to advocate for it's closing. Unfortunately, it's all tax payers who must pay at extra penny a year to make sure loggers in the North Western region of the US receive special favors. These pennies add up to more complexity every year and less money for the federal government. …