Navigation Links
ATR: The Individual Mandate Excise Tax is a Tax
Date:2/23/2010

No, not a "penalty", a "fee" or a "fine" - it is a tax - and it violates Obama's $250,000 tax pledge

WASHINGTON, Feb. 23 /PRNewswire-USNewswire/ -- A close reading of President Obama's healthcare plan finds several terms to describe the tax Americans will pay if they choose not to purchase qualifying health insurance.  These terms include "payment," "assessment," and "individual responsibility."

  • This same tax has also variously been referred to as a "penalty," a "fee," or a "fine."  In fact, it's none of those things, precisely.  It's a tax.  The various synonyms used are designed to hide that simple fact.  The reason for wanting to do so is clear: since this tax would be assigned to any uninsured American (including those making less than $250,000 per year), it's a pretty apparent violation of the President's promise not to raise "any form" of taxes on working families.
  • The evidence that this tax on the uninsured is in fact a tax comes from a thorough reading of the Senate healthcare bill's uninsurance tax section (which the Obama plan specifically says it is starting from).
  • Page 322 of the Senate bill (the "Patient Protection and Affordable Care Act") says that "any penalty imposed by this section with respect to any month shall be included with a taxpayer's return under Chapter 1 [of the Internal Revenue Code (IRC)] for the taxable year which includes such month."  The procedure to collect the tax on page 336 of the bill references Chapter 68 of the IRC.  On page 337 of the bill, a new Chapter 48 is added to Subtitle D of the Code (Miscellaneous Excise Taxes) in order to create the uninsurance tax.  Page 341 of the bill continues to reference various parts of the Code that need to be amended in order to cover this new tax.
  • Anyone reading this precise legislative language can see how this tax would be collected.  An uninsured individual would add the excise tax to their regular income tax burden on the 1040 Form every April.  It is much like other excise taxes collected on the 1040 (early IRA withdrawal tax, for example).

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose all tax increases.  For more information or to arrange an interview please contact John Kartch at (202) 785-0266 or by email at jkartch@atr.org.

SOURCE Americans for Tax Reform

Back to top
'/>"/>
SOURCE Americans for Tax Reform
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Karen Vigil Named Senior Vice President and Chief Executive Officer, Blue Shield of Californias Individual, Small Group, and Government Business Unit
2. Precedent Launches Revolutionary Individual Health Insurance Plans in Texas
3. Vatican Affirms Church Teaching on Nutrition and Hydration for Individuals In Vegetative State
4. Schizophrenia candidate genes affect even healthy individuals
5. 454 Sequencing(TM): Science Paper Describes a Novel, Highly Efficient Method of Sequencing Ancient DNA; Sequences the Mitochondria of 10 Individual Mammoths to Prove It
6. Wells Fargo Offers Online Benefit Administration for Business and Individual Healthcare Consumers
7. New research warns of the lack of specialization when judging individuals with mental disorders
8. Why Healthy People Should Consider Individual Disability Insurance
9. Employees Want the Next Presidents Agenda to Make Work Life Flexibility Easier for Companies and Individuals
10. Overwhelming Majority of Michigan Residents Favors Individual Health Insurance Market Reforms Supported by Blue Cross Blue Shield of Michigan
11. AHIP Releases Individual Market Guarantee Access Proposal, Announces Support for Third Party Review of Rescission Decisions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... February 05, 2016 , ... Stuart Bentkover, MD, FACS ... Designed to provide the most effective tattoo removal today, Dr. Bentkover is the only ... Developed by Cynosure, the PicoSure has been approved by the Food and Drug Administration ...
(Date:2/5/2016)... ... 05, 2016 , ... Colorize is a web theme package created ... next using Colorize's dynamic moving camera. Colorize is perfect for personal and web related ... environment with 1 to 5 focus points per scene, stage floor scene presets that ...
(Date:2/5/2016)... ... ... Health and wellness is a topic that should concern all Americans; however, ... an illness. Migraines are a severe form of a headache and often are accompanied ... the pain on their worst enemy, the feeling can last for many hours and ...
(Date:2/5/2016)... Ramsey, NJ (PRWEB) , ... February 05, 2016 ... ... Optimizing Primary Care for Patients with Rare Diseases, a continuing medical education (CME) ... conference is the first of its kind—and a first for ACCORD, whose mission ...
(Date:2/5/2016)... ... February 05, 2016 , ... KICVentures ( http://www.kicventures.com ) announced ... in New York City on Thursday, January 21, 2016. Kingsley R. Chin, ... alumnus of the varsity Columbia soccer program) spoke at the event, offering professional ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)...  The Senior Care Pharmacy Coalition (SCPC) today ... Jason Chaffetz (R-UT) and Ranking Member ... , "Developments in the Prescription Drug Market," to ... about abusive pharmacy benefit manager (PBM) pricing practices. ... Member Elijah Cummings (D-MD) are diligent, serious lawmakers ...
(Date:2/4/2016)... , Feb. 4, 2016  Montoya Love is ... in the field of Pharmaceuticals. Montoya is the Regulatory ... Manufacturing and ... Becton Dickinson provides healthcare institutions, clinical laboratories ... throughout fifty countries across the globe. ...
(Date:2/4/2016)... Mettler-Toledo International Inc. (NYSE: MTD ) today announced ... highlights: , Sales in local currency increased ... Reported sales decreased 3% as currency reduced sales growth ... per diluted share as reported (EPS) were $4.44, compared ... was $4.65, an increase of 10% over the prior-year ...
Breaking Medicine Technology: