Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Starting in 2014, the fine for not having insurance will be either $95 or 1 percent of a person's income — whichever is greater. Then in 2015, the fine will be either $325 or 2 percent of income. In 2016, the fine will be $695 or 2.5 percent of income. After 2016, the fine will be based on the cost-of-living adjustment every year.
There are exceptions to this rule. Americans do not have to purchase coverage if their income is below the Federal Poverty Line and health insurance premiums would cost more than 8 percent of their monthly income. In this case, most would be eligible for Medicaid or federal subsidies to help pay for health insurance. People who are opposed to the individual mandate for religious reasons also do not have to purchase health insurance.
Due to expected confusion in the early years of the program, more people may face penalties. But it's unclear what will happen if they don't pay them. The ACA forbids the IRS from aggressive efforts to collect the penalty from people who don't pay. The biggest stick the agency may have is to withhold tax refunds from those who owe penalties.
It's not quite up there with alligators living in sewers, but an urban legend is forming around a provision of the Affordable Care Act recently upheld by the Supreme Court.
The health-care legislation touted by President Barack Obama includes a provision that could result in a partial capital-gain tax on homes sold by a small number of taxpayers. But e-mail blasts claiming all transactions would be subject to a housing sales tax are inaccurate, experts say.
At issue is the new 3.8 percent tax on the investment earnings of upper-income households. This provision, designed to help fund Medicare, will take effect in January unless Republicans in Congress can follow through on vows to scuttle it.
"That provision provides the rumors with a kernel of truth," wrote Jack Hagel and Alistair Nevius for the Journal of Accountancy. "A very small number of taxpayers will pay a surtax on gain from the sale of a principal residence."
...
In short, this provision is confusing and subject to misinterpretation, but most homesellers won't be affected by it.
Well, begging your pardon, but that is completely incorrect.
http://www.gohealthinsurance.com/he...ividual-mandate-under-health-care-reform.html
http://money.usnews.com/money/blogs...he-health-insurance-mandate-penalty-will-work
http://www.azcentral.com/business/articles/20120802new-tax-home-sales-overblown-rumor.html
I dislike Obamacare very much.
Not enough to lie about it.
The graphic that you posted without attribution is pure, 100%, unadulterated, lies.
You might consider correcting yourself.
It's actually half-truths which are worse than outright lies. That kernel of truth makes it all seem believable, but the real truth is very different.
this kind of dis-information engaged in by the OP is pathetic.
I see if from both sides of the political spectrum, but at the moment, the GOP is still butt-hurt from the drubbing they took in the recent election, and they're lashing out in all directions. Sadly, truth is the victim here.
Obamacare = bad.
Lying about Obamacare = also bad.
I don't like either one. I have enough real issues to deal, with, I don't need someone's manufactured, fake, outrage to add to the list.
Welcome my son, welcome to the machine.
Where have you been? It's alright we know where you've been.
You've been in the pipeline, filling in time,
provided with toys and Scouting for Boys.
You bought a guitar to punish your ma,
And you didn't like school, and you know you're nobody's fool,
So welcome to the machine.
Welcome my son, welcome to the machine.
What did you dream? It's alright we told you what to dream.
You dreamed of a big star, he played a mean guitar,
He always ate in the Steak Bar. He loved to drive in his Jaguar.
So welcome to the machine.
Well, begging your pardon, but that is completely incorrect.
http://www.gohealthinsurance.com/he...ividual-mandate-under-health-care-reform.html
http://money.usnews.com/money/blogs...he-health-insurance-mandate-penalty-will-work
http://www.azcentral.com/business/articles/20120802new-tax-home-sales-overblown-rumor.html
I dislike Obamacare very much.
Not enough to lie about it.
The graphic that you posted without attribution is pure, 100%, unadulterated, lies.
You might consider correcting yourself.
It's just a song about the music industry, one that Pink Floyd have done extremely well in, millionaires in fact. they probably aren't the best group to demonstrate upright thoughts lol, with songs about cross dressing and lunacy.
Bill, with all do respect. I don't care for either side, Dem or Rep, I am a patriot and a Christian. I don't lie and I find it offensive for people to suggest that I do and even more offensive for people to say that I lie for some agenda. My morals aren't for sale.
What I posted is what I actually read from the Bill itself. I read over 1,000 pages of the 2,572 page bill that actually contradicts itself more times than not. I guess what you posted can/could/maybe/will/who-the-hell-knows change since provisions were written allowing for it to change as needed without notification by the President. Heck, our "representatives" that passed it said you can't know what is in it until they pass it themselves.
1. The quote about the fine starting in 2014 is accurate, although the amount of dollars will change depending on the income of the people that is is referencing. You only have to make $240K or better and the number is $2500+. I guess the graphic could be better but then again NO graphic can contain all the striations of this mammoth monstrosity!
2. The 3.8% is accurate and the quote you posted, that "expert" is wrong. There are many people who back up this fact, not to mention I read it in the bill myself. Again that can all change, it just depends on whatever whoever is power needs at the moment. The FACTS are that if you do not have insurance starting in 2014 the federal government will fine you and they will withhold your tax returns until you get it and pay the fines per the bill.
The Patient Protection Affordable Care Act does include a 3.8 percent tax on investment income for wealthy people, specifically individuals making more than $200,000 a year or married couples earning more than $250,000 a year.
The Tax Foundation estimates this excludes 98 percent of U.S. households.
Even if you’re a member of these two percent, there’s not a sales tax on home sales. The tax is assessed only if you make more than $250,000 on the sale (or $500,000 for couples), and even then it applies only to the amount of profit over that limit.
...
Finally, let’s say you and your spouse earn more than a quarter-million a year and you sell your $100,000 house for $650,000. On your profit of $550,000, you’ll pay an extra $1,900 in taxes due to Obamacare.
The law, however, severely limits the ability of the IRS to collect the penalties. There are no civil or criminal penalties for refusing to pay it and the IRS cannot seize bank accounts or dock wages to collect it. No interest accumulates for unpaid penalties.
So how can the IRS enforce the mandate? Scary letters and threats to withhold tax refunds.
The law allows the IRS to withhold tax refunds to collect the penalty, and most filers get refunds. This year, 77% of the 135 million individual income tax returns processed by the IRS qualified for a refund. The average refund: $2,707.
The law...severely limits the ability of the IRS to collect the penalties. There are no civil or criminal penalties for refusing to pay it and the IRS cannot seize bank accounts or dock wages to collect it. No interest accumulates for unpaid penalties.
So how can the IRS enforce the mandate? Scary letters and threats to withhold tax refunds.
The law allows the IRS to withhold tax refunds to collect the penalty, and most filers get refunds.
...
It should, once word gets out that the IRS is essentially powerless to collect this penalty/tax. People can even stop the IRS from taking the money out of their refunds by the simple expedient of changing their withholding so that they come out even (or owe a little) at the end of the year. (They probably should do that anyway, unless they like the idea of floating Uncle Sam an interest-free loan every year.) In practice, no refund = no tax.
@Bill Mattocks - your comment "I have enough real issues to deal, with, I don't need someone's manufactured, fake, outrage to add to the list" is offensive and manufactured itself. You can call my post wrong and point out the issues backing up your claims but you cross the line sir when you start to act as if you can read into intentions of why it was posted. Do you honestly sit there and think you can know what was in my mind when I posted it? How is it fake? How do you determine when someone is wrong with a post or when someone is manufacturing things in a fit of outrage or outright attempting to mislead people? What if I were to go after posts you make saying that you are posting fake material that you manufactured in an effort to deceive people?
Jason,
That graphic is propaganda at it's finest. It takes some kernels of truth. Both points are factually correct, but ignore that they only apply to a very small portion of the population. Overlaid on a picture of Obama reminiscent of pictures of Il Duce.
All to convey the message that he is a dictator that does not care and will bankrupt you.
It may not be outright lies, but it certainly is not the truth.
The minimum assessment will be $695 per person (but no more than $2,085 per family) in 2016, when fully phased in. The amount can be higher depending on income. But there are exemptions for low-income persons and others.
I appreciate people taking the time to debunk crap like this, but it's sad that it has to be done again and again and again.