The petition
THE NET-EARNINGS TAX BILL
Corporate entities pay income taxes only on their NET EARNINGS. There is a consensus that business entities should be taxed only on their NET EARNINGS, not on their GROSS REVENUES. It is clear to everyone that if business entities were taxed on gross revenue they would not be able to prosper and grow and they will ultimately collapse under a burden of debt.
The Fair Government Organization is petitioning the US government to give workers the same common sense opportunity to make a decent living and not to devoid them of any chance of prosperity.
We are petitioning the government to consider all necessities as deductible expenses thus eliminating the taxation of individuals and families that are not able to make ends meet.
Personal income tax, not unlike business taxes, should be based on NET EARNINGS, i.e. on GROSS WAGES less average realistic fair LIVING EXPENSES.
Any corporate entity is allowed to deduct health insurance premiums, rent, food, transportation, uniforms, education etc. But individual workers who have to pay for their own health insurance or for their medical bills currently have to pay income taxes on money that they need for covering basic living expenses.
Who does this affect? Any worker who has to choose between paying the IRS bill or a visit to the doctor, between paying taxes and paying for dental care or between the taxman and a membership to a health club (which is a medical necessity rather than a luxury).
Why is this such an important issue?
Because, FY2000, 64.1 million (50% of 128.2 tax payers) earned no more than $28,000, $13,008 on average, yet the federal government alone squeezed out of this group $412 Billion in personal income taxes (1986-2000).
The next 25%, 32.1 million workers, earned an average of $39,804 FY2000 (ranging from $28K-$55K), and their federal income taxes totaled $1.279 Trillion (1986-2000).
See: http://www.fairgovernment.org/...
Letting three quarters of American workers pay for their basic necessities BEFORE their taxes will allow them to reduce their debt burden and give more people a chance to actually prosper. It will also infuse more capital into the small businesses that cater to them and improve a larger segment of the economy than can ever be achieved by giving the top 1% huge tax breaks.
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