A repost mind you but I found it a little unsettling . . . .

[rockhopper46038]

This feels more like a "Draconian cut in the rate of the increase in spending" claptrap that was all the rage to protest about 10 years ago.

 

[Blackhawk2001]

Penalty for 2014 is $95 (per person, up to 3 people, yielding $285/household) or 1% of AGI, whichever is greater. Penalty for 2015 is $325 (per person, up to 3 people, yielding $975/household) or 2% of AGI, whichever is greater. Penalty for 2016 is $695 (per person, up to 3 people, yielding $2085/household) or 3% of AGI, whichever is greater. Penalty for 2017 and beyond is identical to the penalty for 2016 save that it is adjusted to supposedly reflect cost-of-living.

So, either you're forced to buy a product and pay for it, even if you don't ever utilize it, or forfeit more of your money to prop up the same system, up to 3% of your yearly income. We fought literal wars for less than this. Now? Everyone shrugs.

I don't think "Everyone shrugs." People are getting pissed about this as they find out how it affects THEM. Those of us who knew this would be a goat screw from the beginning are starting to be believed now; that's all.

 

[poptab]

Those penalties are cheaper than my current premiums. Sounds like a great plan ...
I'm young and healthy too.

 

[jedi]

I can't attest to the accuracy of this,

but


All I can say is f***'m!

I will not go gently as the other sheep will.

I will not surrender to the bidding of this egomaniacal peace of s**t !

This is a repost....

A post from the Obamacare website page. "I actually made it through this morning at 8:00 A.M. I have a preexisting condition (Type 1 Diabetes) and my income base was 45K-55K annually I chose tier 2 "Silver Plan" and my monthly premiums came out to $597.00 with $13,988 yearly deductible!!! There is NO POSSIBLE way that I can afford this so I "opt-out" and chose to continue along with no insurance. I received an email tonight at 5:00 P.M. informing me that my fine would be $4,037 and could be attached to my yearly income tax return. Then you make it to the "REPERCUSSIONS PORTION" for "non-payment" of yearly fine. First, your drivers license will be suspended until paid, and if you go 24 consecutive months with "Non-Payment" and you happen to be a homeowner you will have a federal tax lien placed on your home. You can agree to give your bank information so that they can easy "Automatically withdraw" your "penalties" weekly, bi-weekly or monthly! This by no means is "Free" or even "Affordable"

False!
Driver's License are a STATE function/document which the FEDERAL government has not control of.
The house lien that could be possible as anyone/thing can place a lien on your home provided they take it to court.

Penalty for 2014 is $95 (per person, up to 3 people, yielding $285/household) or 1% of AGI, whichever is greater. Penalty for 2015 is $325 (per person, up to 3 people, yielding $975/household) or 2% of AGI, whichever is greater. Penalty for 2016 is $695 (per person, up to 3 people, yielding $2085/household) or 3% of AGI, whichever is greater. Penalty for 2017 and beyond is identical to the penalty for 2016 save that it is adjusted to supposedly reflect cost-of-living.

So, either you're forced to buy a product and pay for it, even if you don't ever utilize it, or forfeit more of your money to prop up the same system, up to 3% of your yearly income. We fought literal wars for less than this. Now? Everyone shrugs.

^This is the proper tax penalty for not having health insurance starting 01 JAN 2014. You will pay that $95 tax penalty in the Spring of 2015 when you file your 2014 federal tax return.

Interestingly, it appears the easiest way to avoid any penalty tax from remaining uninsured is to simply underpay your taxes each year. If the information in the PolitiFact article is accurate (and it isn't always), then if you are not due to receive a refund the IRS has no means by which to collect your penalty. Speaking as someone who is uninterested in providing the government an interest free loan every year, I never get a refund, so screw them.

Can you say tax evasion?

Not sure if it's tax evasion or not. The law was written with zero 'teeth' for enforcement other than taking it from one's federal tax refund. I don't think congress taught it thru and this is one of those 'loopholes' the law has created. What you will see as time goes by is those who do not get health insurance will also change their withholding so that they are at 0.00 or under $1000 due to the federal government at the end of the year so that they don't have to deal with the tax penalty.

The tax penalty will still be there and probably for life but without another way of getting it the IRS will just have a file with a debit in your name until you pay it and/or die. Suspect that long term Congress will either 'fix' this as the bill from everyone gets bigger or the IRS/Feds take it to court to try and collect it.

 

[jamil]

Yeah, this false story is worth shutting down the gubment for, might as well since the Repubs and TPers can't find a real, legitimate reason for the shutdown...

There is plenty worth shutting down the "gubment" for.

 

[HeadlessRoland]

^This is the proper tax penalty for not having health insurance starting 01 JAN 2014. You will pay that $95 tax penalty in the Spring of 2015 when you file your 2014 federal tax return.

No, I will pay several hundred dollars or more in penalty, instead of the $285 I would pay under the law by having a higher AGI: the cut is deeper. Of course it won't be due until the following tax year, but this is irrelevant to the issue. The issue isn't WHEN I'm paying this , it's that I must pay it at all.

 

[Streak]

False!
Driver's License are a STATE function/document which the FEDERAL government has not control of.
The house lien that could be possible as anyone/thing can place a lien on your home provided they take it to court.




^This is the proper tax penalty for not having health insurance starting 01 JAN 2014. You will pay that $95 tax penalty in the Spring of 2015 when you file your 2014 federal tax return.






Not sure if it's tax evasion or not. The law was written with zero 'teeth' for enforcement other than taking it from one's federal tax refund. I don't think congress taught it thru and this is one of those 'loopholes' the law has created. What you will see as time goes by is those who do not get health insurance will also change their withholding so that they are at 0.00 or under $1000 due to the federal government at the end of the year so that they don't have to deal with the tax penalty.

The tax penalty will still be there and probably for life but without another way of getting it the IRS will just have a file with a debit in your name until you pay it and/or die. Suspect that long term Congress will either 'fix' this as the bill from everyone gets bigger or the IRS/Feds take it to court to try and collect it.

This post.

 

[jedi]

This post.

but no cookies or a +1 rep. Where is da luv!! where.

 

[Dirtebiker]

Interestingly, it appears the easiest way to avoid any penalty tax from remaining uninsured is to simply underpay your taxes each year. If the information in the PolitiFact article is accurate (and it isn't always), then if you are not due to receive a refund the IRS has no means by which to collect your penalty. Speaking as someone who is uninterested in providing the government an interest free loan every year, I never get a refund, so screw them.

I'm sure they will eventually just deduct it from your paycheck!

 

[jedi]

I'm sure they will eventually just deduct it from your paycheck!

When we move to a one payee system yes just like they take the SS tax right now.
For the time being no.

 

[Tinner666]

Can you say tax evasion?

Claiming extra dependents on your W-4 to get more in your pocket and covering any difference at the end of the year is NOT tax evasion. It's just underpaying.

 

[jamil]

Are ther no longer any underpayment penalties?

 

[Dirtebiker]

When we move to a one payee system yes just like they take the SS tax right now.
For the time being no.

Supreme court has ruled it a tax already! Just a matter of time!

 

[jedi]

Supreme court has ruled it a tax already! Just a matter of time!

Agree but we are not there yet.

 

[IndyDave1776]

Are ther no longer any underpayment penalties?

There are, but for significant underpayment, not for being just under the amount due.

 

[Denny347]

Nothing like people getting all pissy over a 100% fabrication. So easily fooled because that is how they see it already.

 

[mbills2223]

Nothing like people getting all pissy over a 100% fabrication. So easily fooled because that is how they see it already.

While the OP is probably fabricated, I can now attest personally to the ridiculousness of the ACA. The fiancee received a letter today informing her that her insurance, which is MORE than adequate for her, is being terminated because it is non-compliant. Catastrophic coverage under the ACA will still cost her more than $200/month, while the insurance she currently has is ~ $100/month. ACA just hit home and I'm furious.

 

[drillsgt]

While the penalty seems incorrect the fact that people are being quoted fairly high monthly rates and ridiculous deductibles is being reported quite often now.

 

[mbills2223]

While the penalty seems incorrect the fact that people are being quoted fairly high monthly rates and ridiculous deductibles is being reported quite often now.

It's unacceptable.

 

[jmiller676]

While the OP is probably fabricated, I can now attest personally to the ridiculousness of the ACA. The fiancee received a letter today informing her that her insurance, which is MORE than adequate for her, is being terminated because it is non-compliant. Catastrophic coverage under the ACA will still cost her more than $200/month, while the insurance she currently has is ~ $100/month. ACA just hit home and I'm furious.

While the penalty seems incorrect the fact that people are being quoted fairly high monthly rates and ridiculous deductibles is being reported quite often now.

My dad is a small business owner, one man tool shop. He got a letter saying his insurance is dropping him at the start of January. I got a quote and for my wife and I its going to be 420 for the "bronze" coverage. This is BS. Go *&$% yourself govt.