Randall S. van Reken, EA, CFP, ATP
Tax Man LLC
2012 Winter Rant
Obamacare - It's Not About Health Care, It's About Taxes
I found it interesting that the Supreme Court decided that Obamacare was in fact a “tax” as opposed to a health care mandate. A few years ago I was bored at a seminar, so I downloaded the bill when it was HR3200. And I read the tax provisions of it. I quickly realized that it was just that . . . a TAX bill. Let me show that in two ways:
1. The IRS is hiring thousands of new employees to enforce Obamacare. Some estimates go as high as 16,500 new employees. If it’s not a tax, why is the IRS so involved? Personally I thought it might involve . . . say . . . doctors, nurses, hospitals, but apparently not.
2. Starting in 2014 if you don’t have health insurance, you have to pay a tax . . . excuse me . . . a “shared responsibility payment” to the IRS . It grows significantly over the first few years to a minimum of $2,085 per household of four. And after you pay this penalty guess what you still don’t have? You still don’t have health care!!
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