All blog posts are cross posted

Tuesday, April 6, 2010

The IRS and Healthcare

A Reuters report:
IRS cannot use levies, seizures, criminal sanctions (RC says "if that's the case why bother with checking? Answer: read further for the real disclosure")
IRS chief: Republican estimate for new hires "made up" (RC:"oh, yeah?")
WASHINGTON, April 5 (Reuters) - The Internal Revenue Service could tap individual tax returns to collect fines against people who fail to buy health insurance as required under recently enacted healthcare legislation, the U.S. tax commissioner said on Monday.
Most individuals are required to get health insurance under the new law, or face penalties that would be phased in over time. By 2016, people without coverage could see fines of 2 percent of their income. (RC I guess fines are not levies)
Subsidies would help poorer people buy coverage, and states would set up exchanges to allow individuals and small groups shop for insurance.
People who do not comply would be levied penalties, and if they don't pay them the penalties could be taken out of their tax refunds. (RC: hmmm... if it comes out of your refund it must be some sort of tax)
Read it all, I'm sure you can find more to criticize as I did.

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