It was always obvious that the penalty for not complying with Obamacare’s individual mandate was just another surtax: •The surtax is collected by, and enforced by, the IRS. •As shown by the newly released draft Form 1040, the surtax is paid as part of normal income tax filing by taxpayers. •The individual mandate surtax was written into tax law itself by the Obamacare statute. •Revenues derived from the individual mandate surtax have always been scored by the Congressional Budget Office as tax revenue. Famously, Chief Justice John Roberts pointed out that the individual mandate surtax is in fact a tax. However, that does not compel conservatives to agree that Obamacare’s individual mandate is Constitutional. The same decision declared the individual mandate unconstitutional under the Commerce Clause. Conservatives can accept that this surtax is a tax increase without accepting the constitutionality of the individual mandate. The Obamacare individual mandate non-compliance surtax is one of at least seven Obamacare taxes that violate the President’s “firm pledge” not to raise any tax on any American making less than $250,000 per year. Thorough documentation of Obama’s promise can be found here. Read more: atr.org/new-irs-form-proves-obama-lied-about-individual-mandate-tax#ixzz38Vrmudqf Follow us: @taxreformer on Twitter
Posted on: Fri, 25 Jul 2014 20:11:20 +0000
Trending Topics
Recently Viewed Topics
© 2015