Supreme Court Justice Oliver Wendell Holmes, Jr. is famously quoted as saying "Taxes are what we pay for a civilized society." Not matter your thoughts here are 10 Fun Tax Facts to discuss with children today!
1. The 16th Amendment, ratified in 1913, established the first permanent US income tax.
2. There are over 7 million words in the tax law and regulations. That beats the Gettysburg address, the Declaration of Independence, and the Holy Bible all rolled into one (269+1,337+773k).
3. Albert Einstein was no fan of figuring out his taxes, once remarking, "The hardest thing in the world to understand is the income tax."
4. States like Iowa, Pensylvania, and New Jersey exempt pumpkins from a sales tax but only if they will be eaten and not carved.
5. April 15 is officially tax day, but it is also: Leonardo da Vinci’s birthday, the day Abraham Lincoln died, the day General Electric was incorporated, the day the Titanic sank and the day that McDonald’s served its first hamburger.
6. Nearly 300,000 trees are cut down yearly to produce the paper for all the IRS forms and instructions.
7. Residents of Hawaii pay more state taxes a person than those of any other state, according to the U.S. Census Bureau, followed by, in order, Wyoming, Connecticut, Minnesota and Delaware. Those who pay the least a person are Alabama, New Hampshire, Colorado, South Dakota and Texas.
8. The first e-file (electronic transmission of a tax return) took place on January 24, 1986.
9. April 15, may be the day you have to pay your bill, but the Tax Foundation says the average American will have to work until Thursday to reach "Tax Freedom Day."
10. As a share of national GDP, the United States is the third least-taxed of the 34 countries in the Organization for Economic Cooperation and Development.