By Kevin “Coach” Collins
It’s tax time again and once again we will be forced to knuckle under to our government’s demands. If you suspect there is plenty wrong with the current system, here are some facts to support your suspicions.
The U.S. tax code is now 3.8 million words long. All of Shakespeare’s works are 900,000 words long.
According to the National Taxpayers Union, U.S. taxpayers spend more than 7.6 billion hours complying with federal tax requirements. In 19 37 two pages of instructions came with a Form 1040; today 189 pages are necessary.
There have been 4428 changes to the tax code in just the past 10 years.
The IRS currently offers 1999 different publications.
Fifteen years ago as a test 46 professional tax preparers completed a hypothetical tax return. All 46 of them came up with a different result. Do you think the same test tried today would be any different?
The Tax Foundation says the average American has to work until April 17 to pay all federal, state, and local taxes. January 22 was Tax Freedom Day in 1900.
America is the only country that taxes citizens on what they earn in foreign countries.
Eighty Six percent of IRS revenue comes from just 20% of Americans.
Total confiscation of the money earned by all those making $250,000 or more would provide just 38% of the federal budget once.
America’s 35% corporate tax rate is the highest in the world.
Because of this high tax rate so many corporations have moved overseas that one 26,000 person town in Switzerland is the home of 30,000 corporations.
In 1950 when corporate tax rates were low they amounted to 30% of IRS receipts. Today that number has fallen to just 7% as the corporate exodus continues.
Although not a cent went to the IRS, Exxon-Mobil paid $15 billion in taxes in 2009.
The International Monetary Fund estimates Americans are storing 18 TRILLION DOLLARS overseas to keep them from the government’s clutches.
Paying the IRS is so stressful on average Americans that each year the number of auto wrecks climbs around April 15th.
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