This is a ‘twist’ on the topic of Taxation that is quite astounding. The underpinning of this topic is actually about the word and concept of ‘Productivity’. In a recent article by Jason Devaney, he ponts out that “American taxpayers will spend nearly 9 billion hours complying with the 2016 tax code, according to a new report”.
It has been widely reported in the latest employment statistics that there are approx. 152,000,000 employed Americans (Follow The Math); 152,000,000 employed Americans having 1 hr/week of sex = 7,904,000,000 (7 billion 904 million hours of sex). Considerably less than the 9 billion hours of dealing with taxes. Of course the amount of time each ’employed’ person spends having sex each week will vary, 1 hour per week of actual sex as a base line average seems reasonable.
“You Want to Talk About Facts, Let’s Talk About Tax”; if you don’t think the issue of taxation is a major topic in our lives just think about those numbers. Imagine what effect this has on the productivity of the nation. Imagine how much better off we would be if this same amount of time and resources were invested in other directions.
Here are some quotes from Mr. Davaney’s article;
“The more the 8.9 billion hours spent is, according to the report, “equal to nearly 4.3 million full-time workers doing nothing but tax return paperwork. The majority of the 8.9 billion hours will be spent complying with U.S. business (2.8 billion hours) and individual income (2.6 billion hours) tax returns”
“The report talks about the sheer size of the U.S. tax code. In 1955 it consisted of 409,000 words. It is now at 2.4 million words. There are also 7.7 million words of tax regulations and 60,000 pages of tax-related case law”
“The latest official estimates of the eye-popping amount of time and money that Americans lose each year in complying with IRS paperwork — 8.9 billion hours and $409 billion in lost productivity — indicate that the most important benefit of tax simplification may be the gift of time”
To readh this entire article (CLICK HERE)