How crony capitalism makes tax season hell
For most Americans, tax season is accompanied by a soundtrack of wailing and gnashing of teeth. According to Pew Research Center, 56 percent of Americans hate or dislike doing their taxes, and 31 percent of those respondents say the process is too complicated. Filing your taxes is expensive, in both time and money: ProPublica reported in 2019 that "Americans spend an estimated 1.7 billion hours and $31 billion doing their taxes each year." When you're elbow-deep in documents and receipts, poring over tiny boxes filled with numbers and second-guessing whether you did, in fact, get married last year, you might ask yourself: does it really have to be this hard? The answer is no. Many other countries, like Germany, Japan, New Zealand and the United Kingdom, have "exact-withholding" systems.
