It’s almost that dreaded time of year again: Tax Day. As if reaching deep into our wallets to fund profligate government spending isn’t bad enough, Americans also bear a tremendous hidden cost just to comply with the tax code. At over 3.8 million words, the tax code has 850 times more words than the U.S. Constitution, and Americans now spend 7.68 billion hours complying with the Treasury Department’s paperwork burden, the vast majority of which comes through the IRS.
In preparation of Tax Day and to help put these burdens in perspective, CF&P today pointed to our popular Economics 101 video from 2010 for a refresher on the hidden burden of tax compliance:
