Yesterday I had the privilege and pleasure of attending a wonderful session with the libertarian Cato Institute at the Waldorf Astoria Hotel in NYC. If you're not familiar with the Cato Institute and its wonderfully reasoned outlook on the world, you should be. They are just as tough on Republicans as they are on Democrats, and their website is loaded with really informative pieces.
At any rate, Michael Tanner their expert on healthcare gave a talk on Obamacre. We have previously maintained that the problems with the website are just the tip of the iceberg, and after yesterday's session, I'm thinking that this iceberg could sink about 300 Titanics.
During the question and answer period I asked Michael about PACA's prohibition against the IRS collecting the individual mandate penalty with its usual weapons of tax liens and garnishments. The law limits apparently limits the IRS to deducting the penalty from refunds. Michael said that I was right about what the law said, but that he was already hearing rumblings from the IRS about how they were planning an end run around the regulations. Suppose that you didn't comply with the individual mandate, and that based on your adjusted gross income you would owe a penalty of $1,000. Suppose you also owed $4,000 in income tax. You send in your return with a check for $4,000 for what you owe in taxes, and in your mind your done, right? WRONG! The IRS is taking the position that since money is fungible, they are going to take $1,000 of your "tax" payment and apply it to the penalty and then send you a bill for underpaying your taxes by $1,000. Pretty slick.
The underlying deceit that has been built into almost every aspect of this bill is really sickening and shows almost an unparalleled degree of contempt for the American people.
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