Happy 100th anniversary, taxpayers!
The 16th Amendment to the Constitution of the United States of America states:
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
These few words were ratified Feb. 3, 1913.
According to National Taxpayer advocate Nina Olson, the Internal Revenue Code now has about 4 million words and is 10 times the size of the Bible. She also noted that the Code is so complicated that businesses and individuals spend more than 6 billion (with a B) hours every year complying with filing requirements. (Of course, this does not count state, county and city filing requirements. Nor does this count all the pages of regulations, rulings, court cases, etc.)
By the way, that is the same as 3 million people working full-time annually, which probably brings down our unemployment rate.
Not counting the recent last minute changes in December/January, there have been about 5,000 changes, since only 2001, imposing a "significant, even unconscionable burden on taxpayers," Olsen said. You might like to also know that equates to about one a day.
A special friend and client gave me a framed copy of the 1913 Form 1040 and instructions. In 1913 there were only 4 pages and the income tax rate did not exceed 2 percent. The current Form 1040 instruction booklet alone is 108 pages. The current forms and rates are too complicated to discuss here, but I bet you are fully aware of these complications. That's what I call "taxing inflation!"