How a $100M IRS website upgrade could slash $191B off America’s $650B annual tax compliance costs. Learn about potential 70% time savings, 90% cost reduction, and $76B in recovered tax revenue.
Category: Taxes
How much does the average American pay in Taxes?
The average American pays $10,489 in “personal taxes,” representing 14% of the average household’s total income. This $10,489 includes: federal income taxes state income taxes personal property taxes vehicle taxes other small taxes However, the entire US Federal Budget alone is $4.4 trillion and the US population is 328,316,410.
Taxes
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A More Progressive Tax System Makes People Happier
A new study comparing 54 nations found that the more progressive the tax policy is, the happier the citizens are.
Debt
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Debt Will Swell Under Top GOP Hopefuls’ Tax Plans
The national debt would balloon under tax policies championed by three of the four major Republican candidates for president, according to an independent analysis of tax and spending proposals so far offered by the campaigns. The lone exception is Texas Rep. Ron Paul, who would pair a big reduction in tax rates with even…