Political Quotes

“That's absolutely correct. Here's a few fun facts that I've compiled over the years on the income tax code. Each year, America spends 6.1 billion hours preparing their tax form. It turns out that's 254 million days. Who knew? The cost of compliance for Federal taxpayers filling out their returns and related chores was $163 billion in 2008. That's 11 percent of all income tax receipts. Think about that just for a moment. We could have an 11 percent increase in revenue to the Federal Treasury if these costs were not incurred. The Tax Code has grown so long that it's become challenging even to figure out how long it is. A search of the Tax Code in 2010 turned up 3.8 million words. A 2001 study published by the Joint Commission on Taxation put the number at 1.3 million words. A 2005 report put the number of words had almost tripled since 1975. Such is the pace, the rate, at which new regulations are being added. A study done in 1998, when the forms were even less complicated, was surveyed by 46 tax experts. They kind of ran some hypothetical numbers on a hypothetical earning, and each expert came up with 46 different answers from 46 tax experts when determining tax liability. The calculations ranged from a low of $34,000 to a high of $68,000. The one who directed the test even stated that his computation is not the only possible correct answer.…”