Arthur Laffer recently wrote a piece in the Wall Street Journal detailing the huge cost of complying with our income tax code.

While you might disagree with his politics or his solution (I personally support a consumption-based tax rather than a flat income tax as he suggests), it's hard to argue with the incredible inefficiency of our income tax code when it comes to its most basic charge:  effectively collecting revenue.

"Tax compliance employs more workers than Wal-Mart, UPS, McDonald's, IBM and Citigroup combined."

Read the whole WSJ piece, The 30-cent tax premium.