Twenty-seven hours. That's the revised figure on just how long the average person in this country spends filling out their tax return this year. That's three working days. What do you make a day? Two hundred bucks? So, if your time is worth about $200 a day that would mean that you can add $600 to your tax bill ... $600 being just part of your cost of compliance with the Internal Revenue Code. Add to that any other expenses you incur for record keeping and tax management during the year ... and it adds up. What's the total nationwide cost? Try $500 billion, and that estimate might be low. But that's money. You can't really get a grip on $500 billion ... so let's try to put it in terms of people. It takes people to do the bookkeeping, maintain the records, and fill out the forms that are necessary for tax compliance on both the personal and business level. How many people? You'll be shocked to learn that tax compliance in the U.S. takes the combined work effort of about 2,700,000 people working eight-hour days five days a week just to make sure that individuals and corporations comply with out tax laws. What a hideous and unforgivable waste of human potential.It also seems that the IRS will be outsourcing the job of collection. Hat tip to Fox News.
Our current system is such a collossal waste of time and money. How can you help? Get educated and informed about the Fair Tax! It's time for a change...and that time is now.