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The Individual Mandate Is The Worst Tax Ever

FoundingFathers

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#1

Carrion Crow

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I don't have access to the WSJ, but I agree with the jest of article based on what you posted here.

This is taken from Turbo Tax:
The penalty you pay for not having health coverage is either a dollar amount or a percentage of family income, whichever is greater. For 2016 and beyond, the law set the penalty at $695 per adult and $347.50 per child, up to a maximum of $2,085 for a family—or 2.5 percent of income, whichever is greater. Penalties are to rise with inflation.

I was reading about a single guy who is a freelance IT specialist. He has some minor health problems and the health insurance premiums (and out-of-pocket copays) were eating him alive. He decided to eliminate all his clients but the small ones to drop his income so he would qualify for Medicaid. Now he's 100% covered for medical, prescriptions, dental and vision -for free.
 

Joe King

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This is taken from Turbo Tax:
The penalty you pay for not having health coverage is either a dollar amount or a percentage of family income, whichever is greater. For 2016 and beyond, the law set the penalty at $695 per adult and $347.50 per child, up to a maximum of $2,085 for a family—or 2.5 percent of income, whichever is greater. Penalties are to rise with inflation.
Does Turbo Tax also tell you that there is no enforcement mechanism to ensure compliance? The only way they can take it is if one is owed a refund or if one voluntarily includes it in their payment.