Mr. Hennessey hit all the crucial tax and economic issues in this piece. His article is a concise summary of one of the most economically perverse tax and social policies we have ever had in this country ~ ObamaCare. The ACA rivals the Stamp Act and Prohibition when it comes to it’s lack of understanding of markets and human behavior, not to mention it’s hugely complex implementation and impossible enforcement.
DECEMBER 21, 2013 – By tinkering yet again with Obamacare, the administration has just set in place one of the most unfair tax policies ever levied on Americans, deciding that some people have to pay taxes while others in the same class don’t.
The Obama Administration has essentially waived the individual mandate under the Affordable Care Act, saying people can seek a “hardship” exemption if they lost their coverage. Actually, it is much more complicated than that: If you lost coverage as a result of Obamacare because your policy was not considered good enough, you can either seek a substandard catastrophic policy in the market (which likely still costs more than the one you had) or just carry no insurance at all, at least through all of next year.
So, mandating insurance for all Americans…
View original post 716 more words