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The Individual Mandate Is The Worst Tax Ever

Discussion in 'Topical Discussions (In Depth)' started by FoundingFathers, Nov 13, 2017.



  1. FoundingFathers

    FoundingFathers Founder Founding Member Site Mgr Site Supporter

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  2. Carrion Crow

    Carrion Crow Silver Member Silver Miner Site Supporter ++

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    I don't have access to the WSJ, but I agree with the jest of article based on what you posted here.

    This is taken from Turbo Tax:
    The penalty you pay for not having health coverage is either a dollar amount or a percentage of family income, whichever is greater. For 2016 and beyond, the law set the penalty at $695 per adult and $347.50 per child, up to a maximum of $2,085 for a family—or 2.5 percent of income, whichever is greater. Penalties are to rise with inflation.

    I was reading about a single guy who is a freelance IT specialist. He has some minor health problems and the health insurance premiums (and out-of-pocket copays) were eating him alive. He decided to eliminate all his clients but the small ones to drop his income so he would qualify for Medicaid. Now he's 100% covered for medical, prescriptions, dental and vision -for free.
     
    FoundingFathers likes this.
  3. Joe King

    Joe King Gold Member Gold Chaser

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    Does Turbo Tax also tell you that there is no enforcement mechanism to ensure compliance? The only way they can take it is if one is owed a refund or if one voluntarily includes it in their payment.
     

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