Based on Internal Revenue Service figures, the House Committee on Ways and Means has compiled an estimate of the total amount of hours it will take to comply with the tax rules. The bottom line: 79,229,503 hours, most of which will fall on small businesses.Creating a nannystate is a tough job...
For fun, the committee gave a comparative example.
"So, what can be done in 79,229,503 hours? The Empire State building, which took 7 million man-hours to build, could be constructed 11 times. The Curiosity Lander could travel from Earth to Mars 13,048 times. Halley's comet, seen from Earth once every 76 years, could be spotted 119 times."
The committee said that Obamacare has resulted in thousands of pages in IRS and Treasury rules including 17 regulations, 5 revenue procedures, 2 revenue rulings, and 14 Treasury decisions.
Tuesday, September 18, 2012
How many hours would it take to comply with Obamacare?