Economists' Outlook

Housing stats and analysis from NAR's research experts.

Simple Tax Code: A Visualization

Visuals are often better than words.  Here’s an example from history: when Vladimir the Great wanted to adopt a religion for his country (around the year 1000), he read and heard of many different religions but had a hard time deciding which way to go.  The decision came easily, however, once he visited and stepped into the church of Hagia Sophia in Constantinople (now Istanbul, Turkey).  He said it was like entering heaven on earth and subsequently adopted Christianity for all of Russia and Ukraine.

One can also appreciate the simple visual of the U.S. tax code.  It began in 1913 with only 400 pages (inside one will find the mortgage interest deduction).

Today, it is a mess with 74,000 pages that no one reads (see below for the comparison).  Thank heaven for the software and accountants to do the taxes for us.  What nonsense loopholes are in these pages….?  Something to ponder.

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