Americans spend about 6 billion hours a year collecting the data and filling out the forms. We spend $10 billion to H&R Block and other preparers. And on top of that, $2 billion in tax preparation software, which still takes… — T.R. Reid Copy Share Image
We have the most expensive compliance system in the world. The IRS brags that they spend 35 cents for every $100 they collect. They're… — T.R. Reid Copy Share Image
President Trump repeatedly says that "America is the highest-taxed country in the world." This is an alternative fact. We pay less in taxes, and… — T.R. Reid Copy Share Image
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a… — T.R. Reid Copy Share Image
“When I was traveling the world on my quest, I asked the health ministry of each country how many citizens had declared bankruptcy in… — T.R. Reid Copy Share Image
When it comes to taxation, Americans are still banging out letters on a typewriter and dropping them in the mail box while everybody else… — T.R. Reid Copy Share Image
If you get rid of all these giveaways and loopholes and deductions and credits, then you can sharply lower the rates. — T.R. Reid Copy Share Image
If you ask any economist, they'll tell you all the mortgage interest deduction does is raise the price of the house. So a couple… — T.R. Reid Copy Share Image
It turns out a VAT - a value-added tax - is a very easy tax to collect and a very hard tax to evade.… — T.R. Reid Copy Share Image
Corporations use all sorts of complex stratagems to move their profits overseas, and thus escape the U.S. income tax. — T.R. Reid Copy Share Image
The Value-Added Tax, a sales tax that applies at every level of business transactions, is an easy tax for governments to collect, and a… — T.R. Reid Copy Share Image
“But Nikki White was a citizen of the world’s richest country, the United States of America.” — T.R. Reid Copy Share Image
Starting in the '80s or so, after the United States sharply cut its rates, other countries decided they better do it too, and here's… — T.R. Reid Copy Share Image
If your employer pays your health insurance, that's not counted as income to you. And any economist would say that's your income, because they'd… — T.R. Reid Copy Share Image
You also get a deduction in America for taking a night school course, growing sugarcane, moving to a new city for a job, replanting… — T.R. Reid Copy Share Image
Professor Eric Zolt of UCLA, said to me, "The VAT is such a good idea, mark my words, within five years, the U.S. will… — T.R. Reid Copy Share Image
