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:2/8/2016)... ... February 08, 2016 , ... GrassrootsHealth published ... rate of type 2 diabetes in the GrassrootsHealth cohort with substantially higher vitamin ... a change in public health,” states Carole Baggerly, Director of GrassrootsHealth, “the safety ...
(Date:2/8/2016)... (PRWEB) , ... February 08, 2016 , ... TopConsumerReviews.com recently ... in Mole removal products. , Moles are derived from a cluster of melanin when ... all the wrong places and create a lifetime of embarrassment. Historically, mole removal ...
(Date:2/8/2016)... (PRWEB) , ... February 08, 2016 , ... Guruji Mahendra ... 9th, 10th and 11th, 2016 in honor of his birthday on February 10th. ... happiness. Mahendra Trivedi is known by over 250,000 people from over 40 different ...
(Date:2/8/2016)... ... 08, 2016 , ... According to research by the National ... technicians to be certified or obtain continuing education. To increase patient awareness of ... Your Mouth?” campaign to inform dentists and patients about the possible lack of ...
(Date:2/7/2016)... Metamora, Michigan (PRWEB) , ... February 07, 2016 , ... ... recognition of National Wear Red Day. National Wear Red Day is the first ... in women. Heart disease and stroke cause 1 in 3 deaths among women each ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... In a historic vote among its members this weekend, the Shinnecock Indian ... facility and dispensary on tribal land near Southampton . ... provider for patients in the state,s Medical Cannabis Program. --> ... patients in the state,s Medical Cannabis Program. --> Tribal ... pursue designation from the State of New York ...
(Date:2/8/2016)... PALO ALTO, Calif. , Feb. 8, 2016 ... chemical manufacturing, and Kodiak Sciences Inc., a biopharmaceutical company ... retinal disease, announced today agreements for the clinical supply ... manufacture material at multiple sites, including Slough (UK), Visp ... --> Retinal diseases, such as age-related ...
(Date:2/8/2016)... -- Aoxing Pharmaceutical Company, Inc. (NYSE MKT: AXN) today announced that ... 31, 2015, the Company achieved revenue of $8,195,839, a 27% ... in fiscal 2015. --> --> ... 2016 was $2,068,635, or $.03 per share, up 265% from ... the Q2 of fiscal year 2015. Gross margin for the ...
Breaking Medicine Technology: