Finance News & Insights

Will ‘Million Mustache March’ boost the economy?

If any of your mustachioed Finance workers are absent on April 1, there’s a good chance you’ll find them at this event.

The American Mustache Institute (AMI) is planning a “Million Mustache March,” in Washington, DC on April Fool’s Day. The marchers are planning to meet at the White House and march over to Capital Hill.

So what’s the aim of this movement? The AMI is hoping the march will get lawmakers to pass the “Stimulus to Allow Critical Hair Expenses” or STACHE Act passed.  The STACHE act would provide “a $250 annual tax deduction for expenditures on mustache grooming supplies.”

Why should mustached individuals get a tax break? Because, according to AMI research, Americans with staches earn on average 4.3% more than “clean-shaven Americans” each year. Bottom line: Giving people incentives for growing mustaches (in the form of a tax break) would help bolster the struggling economy.

We’ll keep you posted on the outcome of this critical legislative measure. In the meantime, you can read more about the “Million Mustache March,” the AMI and the prominent celebrities who have gotten behind the organization’s cause right here.

 

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