The social and environmental benefits to mustache growth and maintenance provide a service to the U.S. economy. And thus, noted tax policy professor Dr. John Yeutter and the American Mustache Institute propose the Stimulus To Allow Critical Hair Expenses, or the STACHE Act – which would provide up to a $250.00 annual tax incentive for Mustached Americans.
Noted tax policy professor Dr. John Yeutter with a class at Northeastern State University
“Given the clear link between the growing and maintenance of mustaches and incremental income, it appears clear that mustache maintenance costs qualify for and should be considered as a deductible expense related to the production of income under Internal Revenue Code Section 212,” wrote Dr. John Yeutter, Ph.D., CFP®, Associate Professor of Accounting and Tax Policy at Northeastern State University in Tahlequah, Oklahoma, in his White Paper “Mustached Americans And The Triple Bottom Line.”
In “Triple Bottom Line,” Dr. Yeutter argues that the largely facial-hair-barren U.S. Congress – there are currently 29 Democratic mustaches and 12 beards in the 111th Congress – has previously provided tax incentives for specific societal segments whose efforts enhance economic growth including the “Job Creation and Worker Assistance Act of 2002,” a bill recognizing the contributions of educators to the American economy, and the corresponding necessary and unreimbursed expenditures to produce those contributions, allowing a special deduction for classroom teaching supplies.
The STACHE Act offers incentives for people of Mustached American heritage in the form of the a $250 deduction for expenditures for mustache grooming supplies in the determination of Adjusted Gross Income.
“In 1965 at a time of great ugliness in America, the U.S. Government asked the American Mustache Institute to help increase good looks by 22 percent,” said Dr. Aaron Perlut, chairman of the American Mustache Institute. “We kept our part of the bargain, increasing American good looks by 38 percent, one freshly minted Mustached American at a time. But those good looks come at a price – in the form of purchasing mustache trimmers, wax, Just For Men coloring products, and bacon. Now it’s the government’s turn to support our economic needs.”
The current limitation on the deductibility of mustache grooming supplies and accessories, as well as the taxation of the additional earnings of the Mustached American, provides a disincentive for the clean-shaven to enjoy the Mustached American lifestyle.
Products used to maintain a Mustached American lifestyle include:
Mustache and beard trimming instruments;
Weightless conditioning agents and wax;
Facial hair coloring products (for men and women over 43 years of age);
Mustache combs and mirrors;
Mustache insurance (now required by state law in Alabama, Oregon, Maine, and New Mexico, and Puerto Rico);
Burt Reynolds wallet-sized photos.
Dr. Yeutter’s research suggests that if the incentive causes only 5 percent of the more than 50,000,000 households with no male adult with facial hair to adopt and maintain a mustache, earnings by these households should increase by more than $6.8 Billion.
With a conservative estimate of a 25 percent Federal Income Tax on this incremental income, federal tax collections would increase by $1.7 billion. In contrast, the cost of this incentive, by the approximately 20 million Mustached American households, cannot exceed $1.4 billion per year.