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:2/22/2017)... (PRWEB) , ... February 22, 2017 , ... Pet obesity ... and 54% of dogs, according to the Association for Pet Obesity Prevention (APOP). During ... key pet food issues such as the benefits of corn and grains, value of ...
(Date:2/22/2017)... ... 2017 , ... FPS is a nonprofit mental health agency ... 1977, our organization was at the forefront in working with veterans with PTSD-related ... evident and served as the catalyst for the establishing the agency. , Run ...
(Date:2/22/2017)... ... February 22, 2017 , ... In ... many different solutions on the market, it is easy to start feeling frustrated ... Locksmith offers a complimentary security consultation. , Home Security Hardware Choices, There ...
(Date:2/22/2017)... Wis (PRWEB) , ... February 22, 2017 , ... ... a category by itself - the Vectorâ„¢ Series Multi-Cook Oven offers up to ... oven chamber, featuring exclusive Structured Air Technologyâ„¢ for unmatched evenness in cooking. Alto-Shaam ...
(Date:2/22/2017)... NORTHERN CALIFORNIA (PRWEB) , ... February 22, 2017 ... ... expand the pipeline and the number of African American/Black students who want to ... and residents to pursue their careers as physicians in the Oakland/San Francisco Northern ...
Breaking Medicine News(10 mins):
(Date:2/22/2017)... 22, 2017 The Senior Care Pharmacy Coalition ... and House of Representatives that will curtail the ability ... -- from extracting retroactive direct and indirect remuneration (DIR) ... pharmacies and the Medicare program. S. 413, ... and Jon Tester (D-MT), and House companion ...
(Date:2/22/2017)... MELVILLE, N.Y. , Feb. 22, 2017 /PRNewswire/ ... has signed an exclusive distribution agreement with Rijuven, ... its CardioSleeve diagnostic device to medical practitioners. ... records synchronized electrocardiogram (ECG) and heart sound signals, ... via Bluetooth, and offers cloud-based analysis to help ...
(Date:2/22/2017)... Feb. 22, 2017  Allergan plc (NYSE: AGN), ... be a Gold sponsor of the Alzheimer,s Foundation ... Tour." This tour commemorates AFA,s15 years of educating ... and programs. The tour will include AFA,s free ... and displays of the AFA Quilt to Remember. ...
Breaking Medicine Technology: