Whatever their political perspective, people find reasons to get upset on tax day.
But they’re just two of many ridiculous facts that emerge in this giant bureaucratic mess.
You could fill Dallas with the number of accountants Americans hire to help with taxes each year (over a million)
So how come rich people are paying more taxes than ever? Because they are gaining wealth faster than the tax rate is declining!
47 per cent of Americans pay no federal income taxes; but they do pay state and local taxes, sales tax, gas tax, utility tax, cigarette tax and other tariffs
The average federal income tax rate for these 400 was 17%. This is down from 26% in 1992. (Thank low capital gains taxes).
Thanks to big loopholes, GE paid no taxes on U.S. operating income of $5.1 billion. Actually, they claimed a $3.2 billion tax benefit
Over 100 companies on the S&P 500 paid less than 20 per cent in federal taxes. (The corporate tax rate is supposed to be 35 per cent)
Nicholas Cage owes around $14.6 million in back taxes. That's more than his last movie, Drive Angry 3D, earned on opening weekend
Another gift to rich people hidden in the new tax deal: $5 million tax-free gift exemptions, up from $1 million previously
Business Insider Emails & Alerts
Site highlights each day to your inbox.