“the newly overtaxed (who mistakenly think they will be paying a mere $95 “penalty”)”
Yeah, the penalty is much bigger than that, it is $95 or 1% of your income, whichever is greater for 2014, then it goes up after that each year.
The only good thing about it is there is no teeth in the enforcement section of the bill, so you just make sure you don’t have a refund coming on your taxes every year.
What will fedgov do without all those dollars coming in every week that they used to be able to sponge all year? Everyone will owe, or be very close to it from here on out - the people will actually wield some power now (if they aren’t too stupid to pay this little bit of attention).
” just make sure you don’t have a refund coming on your taxes every year.”
Look for bama to close that loophole very soon.
I am pretty sure the penalty will end up being loaded into your federal taxes due and there will be no escape
Look at how thoroughly the IRS has become expanded, politicized and co-opted as a tool (or weapon) by the Obama administration