Last updated on April 19, 2023
| According to Yahoo Finance, it takes less than five minutes and $0 to file taxes in Estonia, a country with the best tax structure in the world, compared to the average American taxpayer who spends 13 hours preparing their tax returns and pay $240 for tax preparation services. Experts explain that the reason for this disparity is that the U.S. tax system is being used as a tool to achieve economic and social goals, which makes the tax code complex. The progressive tax system is being used by policymakers to achieve several goals, such as encouraging retirement saving, subsidizing child care, or pushing forward environmental initiatives through an array of deductions and credits. The powerful interest groups are battling to keep what works for their constituents, adding a layer of complication to the tax code. The IRS is ill-prepared to fulfill its many responsibilities. |
Complex Terms:
- Estonia – Country in Northern Europe
- IRS – Internal Revenue Service, they are responsible for collecting federal taxes
Comments are closed.