1 Trillion Dollars Estimated Spent Dealing With The Tax Code

Tax Code Complexity Now Costs U.S. Economy up to $1 Trillion Annually

A recent Wallet Hub poll has revealed that 75 percent of Americans believe the federal tax code is too complex. A similar Pew poll registered Americans’ dissatisfaction with the federal tax code at 72 percent, while the last Tax Foundation poll found a staggering 82 percent of the public in favor of a “complete overhaul” of the entire federal tax system. Even the U.S. Treasury Department has admitted that “the complexity of the U.S. tax code makes the tax law too difficult for taxpayers to understand and for the IRS to administer.”

Enough is enough; it’s time for a change.

I don’t think any of this is surprising. It’s time to simplify things. Of course that may mean government employees out of a job.

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