How the US Tax System Works: Infographic

The US Tax system is the most complex system in the world. Nobody knows if there is any logic or purpose behind some of the tax laws with all its all of deductions, credits and so forth. Because it is so complex thousands of people earn a living trying to interpret it for others. This group of people include attorneys, accountants, tax software companies, tax consultants, etc.

One of the earliest written legal codes is “The Code of Hammurabi”. Below is the description:

The Code of Hammurabi was one of the earliest and most complete written legal codes and was proclaimed by the Babylonian king Hammurabi, who reigned from 1792 to 1750 B.C. Hammurabi expanded the city-state of Babylon along the Euphrates River to unite all of southern Mesopotamia. The Hammurabi code of laws, a collection of 282 rules, established standards for commercial interactions and set fines and punishments to meet the requirements of justice. Hammurabi’s Code was carved onto a massive, finger-shaped black stone stele (pillar) that was looted by invaders and finally rediscovered in 1901.

Source: Code of Hammurabi

Someone today might be able to read and understand The Code of Hammurabi than the US tax system.

With that intro, below is a neat infographic on the current US Tax system from Peter G.Peterson Foundation:

Click to enlarge

Source: Peter G.Peterson Foundation

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