yep, you heard that right, the government is taxing the payments to victims of BP...what next???
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Our march is heading for New Orleans right now and that's where we'll stay until we win White House or Congressional relief for our countrymen.
You see, unless the White House steps up right now the IRS will make the Gulf Coast catastrophe even worse.
The IRS is getting ready to tax the victims of the Gulf spill on payments made to them by British Petroleum!
Those payments hardly offset the immediate and long term damage that has been done to their livelihoods. For them, it’s food on the table and precious little relief.
Taxing these modest payments is like kicking someone who has just been hit by a truck.
Without our help our broken, inflexible and corrupted tax system will only add to their suffering. We’re not going to let that happen.
That’s why I want to ask you to click here right now to write a message to President Obama. Tell him that our tax system already hurts America enough and that the IRS must be ordered to forgo income taxes on these payments.
A lot of our fellow Americans live in the Gulf Coast states. Let’s band together now and roar to help them.
The ripple effect of this disaster on their economies makes them victims, too, even if they don’t work directly on water or near it. Let';s not let the IRS make it even worse.
IRS policies have undermined victim’s recovery before—like after Hurricane Katrina. We can’t let it happen again.
Please just take a moment and send our President a message in support of our fellow citizens and FairTax brothers and sisters:
Mr. President, Tell the IRS to lay off taxes on oil spill payments!
Thank you for believing in the need for fundamental tax reform and for helping our fellow citizens in their time of need.
Ken Hoagland, Chairman
The Online Tax Revolt
Actually, I can't imagine why anyone would have ever thought that payments from BP for loss of income would not be taxed. It is after all to replace income, which would have been taxable. If our dear federal government, the gift that keeps on giving to big business, wanted to be uncharacteristically (sp?) gracious and not apply that concept, they would have provided for that exemption in the establishment of the fund. If not, the tax laws of the US would apply.
I agree with you on this. The people in the area near the spill have suffered a lot more than the loss of financial assets, but this is taxable income.
Some things will hurt them in their daily lives for an indeterminable time to come. No one wins from an oil spill, and the victims include the whole planet.
Yes, the victims include the whole planet, and no compensations can ever really be had for that, as it is a grievous unkown.
by SparklingJewel6 years ago
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Fromm CNN and Maureen Dowd:http://www.cnn.com/2010/POLITICS/08/17/ … tml?hpt=C2
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