Posted on 01/31/2013 2:43:47 PM PST by rhema
No, that is totally unacceptable.
That whole bunch of corrupt inside traders and their corrupt lobbyist partners along with the corrupt judges need to be prosecuted and sent to prison.
The laws have to apply to everyone equally in order for this republic to function as intended. We are witnessing what happens when the laws are ignored.
15,000 new agents? 3 million guns sold the end of 2012? The news is full of numbers.
It would be very easy to tie the IRS up long term if people just filled their returns out the old-fashioned way, by hand. Accurate, handcopy the turbotax output if you want, but handwritten in such a way that the IRS automated scanners cannot be certain and kick it out for human review. Make them work for the money.
bflr
......and not knowing will not be an excuse for not paying for the insurance or the penalty....it never is with the IRS. This is insane.
What’s left uncovered in spite of a $20,000.00 annual “penalty”/tax??? BOHICA!!!
Actually the article says that the premium is $2600, if you do all the IRS bs calculations.
...........................
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 347 percent of
the Federal poverty line, the applicable percentage is 9.5. Because each month in 2016
is a coverage month (within the meaning of §1.36B-3(c)), the maximum credit allowable under section 36B is the excess of the premium for the applicable benchmark plan over
the product of the household income and the applicable percentage ($17,400).
Therefore, under paragraph (e)(4)(ii)(A) of this section, the required contribution for M,
N, P, and Q is $2,600. Under paragraph (f)(2) of this section, M, N, P, and Q have
affordable coverage for 2016 because their required contribution ($2,600) does not
exceed 8 percent of their household income ($6,400).
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 347 percent of
the Federal poverty line, the applicable percentage is 9.5. Because each month in 2016
is a coverage month (within the meaning of §1.36B-3(c)), the maximum credit allowable
61
under section 36B is the excess of the premium for the applicable benchmark plan over
the product of the household income and the applicable percentage ($17,400).
Therefore, under paragraph (e)(4)(ii)(A) of this section, the required contribution for M,
N, P, and Q is $2,600. Under paragraph (f)(2) of this section, M, N, P, and Q have
affordable coverage for 2016 because their required contribution ($2,600) does not
exceed 8 percent of their household income ($6,400).
...........................
The annual payment is $2600, not $20,000. The 20K is used as the basis for some sort of income scaling.
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 347 percent of
the Federal poverty line, the applicable percentage is 9.5. Because each month in 2016
is a coverage month (within the meaning of §1.36B-3(c)), the maximum credit allowable
under section 36B is the excess of the premium for the applicable benchmark plan over
the product of the household income and the applicable percentage ($17,400).
Therefore, under paragraph (e)(4)(ii)(A) of this section, the required contribution for M,
N, P, and Q is $2,600. Under paragraph (f)(2) of this section, M, N, P, and Q have
affordable coverage for 2016 because their required contribution ($2,600) does not
exceed 8 percent of their household income ($6,400).
.....................
The amount they pay is $2600 not $20,000.
Thanks rhema.
It’s a service-based economy, but it doesn’t have to be great service, right?
Page 60 is what you are looking for, and if you go through the whole example you see that the payment for a family of 4 making 80K is $2600, the 20K is part of how IRS calculates the income-adjusted payment.
$2600 not $20,000
See? There's the problem. I did read the post and here's why I ask:
(From the article):
Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
A family of four (or five), with gross income of $20,000, will not have any taxable income (adjusted gross income) and will qualify for the EITC. If the working spouse gets insurance from his employer, but cannot afford the insurance offered for his wife and kids (if he wants to feed, house and clothe them), is he subject to the fine (Obama)/tax (USSC)?
doctors? what doctors?
We’ll be seeing PA’s and nurses.
Wow, that will get the Dem pols scrambling......
I’m guessing but I suspect he’ll get coverage paid for by the rest of us.
People here argue whether the regime/Obama is predominantly communist or fascist, when it looks more like the system is one crafted out of any number of diabolical totalitarian historical experiments. A hybrid beast unlike all previous beasts, more dreadful and terrible than the ones before it...
For a real eye-opener compare the Hebrew word for demagogue to Gog, Magog, and especially to [eretz] ha-Magog:
דמגוג
גוג
מגוג
ארץ המגוג
Amputate the already "unattached left foot" that is in the letter hei, and ha-Magog becomes demagogue, which reveals Gog 44 (mem + dalet = 44, + Gog). Or that "Dem", [who is] Gog...
המגוג
דמגוג
I mean seriously, how many Hebrew words contain both Gog and Magog? Seems like it would be a pretty short list, variants of demagogue, the very definition of community organizer #44.
Surprised I haven't seen this one on the geula forums but the intertoobz is pretty big. I probably missed it.
Looks like that family would be exempt from penalties.
.....................
(f) Household income below filing threshold—(1) In general. An individual is an
exempt individual for any taxable year for which the individual’s household income is
less than the applicable filing threshold.
(2) Applicable filing threshold—(i) In general. For purposes of this section,
applicable filing threshold means the amount of gross income that would trigger an
individual’s requirement to file a Federal income tax return under section 6012(a)(1).
(ii) Certain dependents. The applicable filing threshold for an individual who is
properly claimed as a dependent by another taxpayer is equal to the other taxpayer’s
applicable filing threshold.
The mental midgets at the IRS are going to be able to do all of this math?
HA! That is unlikely.
I could not follow the example they gave. Too many missing steps.
That's until single-payer, which Obama's aiming to get or set up.
Under Obama's single-payer, I picture a van and mobile med clinics. Kind of like the old bookmobiles from the library that would drive around a neighborhood.
Only instead of checking out books they're checking out you. Of course the medical van will only come once every few months, so better not get sick in the meantime. And no, there won't be actual doctors just nurse practitioners who speak English as a second language, and medical assistants earning their degrees. Every appointment will be exactly 5 minutes long or less. And of course, anyone over 50 will be last in line to be seen. Over 60 and you're on your own. All this will be at the bargain price of 58% of your income in taxes.
So the families with incomes of about 25k per year, will live off 5k all year long, in tents under freeway overpasses.
I think this will create a massive black market for medical services. Families will have no choice but to pay the “penalty/tax” and seek care on a cash basis from those who will be more than willing to provide it.
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