Blog: Some Tax Facts

Statement

By:  Tim Scott
Date: April 10, 2012
Location: Unknown

As we approach Tax Day next week, I have been sharing some interesting facts about taxes on my Facebook and Twitter. In case you missed them, here's what we've posted thus far.

1. The US now has the highest corporate tax rate in the world - the opposite of competitive. Need tax reform for jobs and for American families

2. 13 days till Tax Day. Are you one of the 3/5 of Americans who think we're overtaxed?

3. Our tax code is so dense, the IRS has more than 100,000 employees. South Carolina only has 2 CITIES bigger than that.

4. Americans spend 8 BILLION hours a year doing their taxes. Simpler tax code = less time wasted.

5. There are more than 1,100 forms and instructional booklets from the IRS to determine one's tax liability. #LetsSimplify

6. Americans pay $35 billion out of pocket for assistance in filing their taxes. #LetsSimplify

7. In the past ten years, there have been 4,428 changes to the tax code. There are only 3,653 days in 10 years. #LetsSimplify

8. Tax Day is next week - did u know the instruction booklet for the most-commonly used individual form (1040) is 189 pages long? #LetsSimplify

I'll keep fighting for real tax reform in Washington. Americans deserve a simpler, better system.

Tim