Thursday, April 10, 2014

Tax Facts

The Gettysburg address is 269 words, the Declaration of Independence is 1,337 words, and the Holy Bible is only 773,000 (appox. depending on versionwords. However, the tax law has grown from 11,400 words in 1913, to 7 million words today.

There are at least 480 different tax forms, each with many pages of instructions.

Even the easiest form, the1040E has 33 pages in instructions, and all in fine print.

The IRS sends out 8 billion pages of forms and instructions each year. Laid end to end, they would stretch around the earth 28 times.

Nearly 300,000 trees are cut down yearly to produce the paper for all the IRS forms and instructions.

American taxpayers spend $200 billion and 5.4 billion hours working to comply with federal taxes each year, more than it takes to produce every car, truck, and van in the United States.

The IRS employs 114,000 people; that's twice as many as the CIA and five times more than the FBI.

60% of taxpayers must hire a professional to get through their own return.

Taxes eat up 38.2% of the average family's income; that's more than for food, clothing and shelter.

Today's Reflection:
Oxymoron: Temporary Tax Increase

Live Long and Prosper...

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