Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,864
- 2,040
oh well, we are all suppose to be thankful Obama came into our lives. so shut up and pay up
you see what they call this fine on the forms? your "shared Responsibility payment"
SNIP:
by Jon Hartley April 15, 2015 11:42 AM Perversely, Obamacare’s tax penalty is disproportionately harming those the bill was supposed to help.
This tax-filing season marks one of the largest tax hikes on the poor in more than 20 years, thanks to the Affordable Care Act signed into law five years ago.
Through the law’s individual mandate, every U.S. person filing a tax return with the IRS is required to check a new box on their tax filings, attesting to whether or not they have health-insurance coverage, answering truthfully under the penalty of perjury.
Beginning this year, anyone without health insurance, regardless of their reasons, potentially faces a sizeable increase in their tax burden.
More specifically, households that did not have health insurance in 2014 are required to pay the maximum of either 1 percent of their household income or the sum of $95 per uninsured adult and $47.50 per child under 18.
According to a recent analysis from H&R Block using data from this tax season, the average tax penalty for not having insurance has been $172, an indication that most taxpayers are paying more than the flat fee of $95 per uncovered adult.
Next year those tax penalties will soar even further, as households that do not have coverage will be required to pay the maximum of either 2 percent of household income or the sum of $325 per uninsured adult and $162.50 per child under 18.
Up to 6 million individuals, or 4 percent of tax filers, are estimated to have paid the fine this tax season for not having carried insurance in 2014, according to Treasury Department estimates released earlier this year.
More Obamacare The Obama Administration Is Trying to Force Florida into the Medicaid Expansion, So Florida's Suing Would Jeb Bush Take On His Former Business Partners in the Hospital Industry to Repeal Obamacare? Obamacare:
Not as Bad as It Could Have Been, But Still Awful The Obamacare individual-mandate penalty may very likely be ignored by taxpayers in the upper or middle class, the vast majority of whom continue to have health insurance.
However, individuals in the bottom income tiers, who are still largely without insurance, have received a substantial tax hike this season thanks to the Obama administration, despite its failed national ad campaigns encouraging enrollment on the federal exchanges.
all of it here
Read more at: National Review
you see what they call this fine on the forms? your "shared Responsibility payment"
SNIP:
by Jon Hartley April 15, 2015 11:42 AM Perversely, Obamacare’s tax penalty is disproportionately harming those the bill was supposed to help.
This tax-filing season marks one of the largest tax hikes on the poor in more than 20 years, thanks to the Affordable Care Act signed into law five years ago.
Through the law’s individual mandate, every U.S. person filing a tax return with the IRS is required to check a new box on their tax filings, attesting to whether or not they have health-insurance coverage, answering truthfully under the penalty of perjury.
Beginning this year, anyone without health insurance, regardless of their reasons, potentially faces a sizeable increase in their tax burden.
More specifically, households that did not have health insurance in 2014 are required to pay the maximum of either 1 percent of their household income or the sum of $95 per uninsured adult and $47.50 per child under 18.
According to a recent analysis from H&R Block using data from this tax season, the average tax penalty for not having insurance has been $172, an indication that most taxpayers are paying more than the flat fee of $95 per uncovered adult.
Next year those tax penalties will soar even further, as households that do not have coverage will be required to pay the maximum of either 2 percent of household income or the sum of $325 per uninsured adult and $162.50 per child under 18.
Up to 6 million individuals, or 4 percent of tax filers, are estimated to have paid the fine this tax season for not having carried insurance in 2014, according to Treasury Department estimates released earlier this year.
More Obamacare The Obama Administration Is Trying to Force Florida into the Medicaid Expansion, So Florida's Suing Would Jeb Bush Take On His Former Business Partners in the Hospital Industry to Repeal Obamacare? Obamacare:
Not as Bad as It Could Have Been, But Still Awful The Obamacare individual-mandate penalty may very likely be ignored by taxpayers in the upper or middle class, the vast majority of whom continue to have health insurance.
However, individuals in the bottom income tiers, who are still largely without insurance, have received a substantial tax hike this season thanks to the Obama administration, despite its failed national ad campaigns encouraging enrollment on the federal exchanges.
all of it here
Read more at: National Review