Saturday, March 20, 2010

The IRS Expansion Act of 2010

Critics have insisted that the Obama-Pelosi healthcare bill in Congress is not about healthcare. This latest news shows the bill is a HUGE expansion of the IRS:

* IRS agents verify if you have “acceptable” health care coverage;
* IRS has the authority to fine you up to $2,250 or 2 percent of your income (whichever is greater) for failure to prove that you have purchased “minimum essential coverage;”
* IRS can confiscate your tax refund;
* IRS audits are likely to increase;
* IRS will need up to $10 billion to administer the new health care program this decade;
* IRS may need to hire as many as 16,500 additional auditors, agents and other employees to investigate and collect billions in new taxes from Americans; and
* Nearly half of all these new individual mandate taxes will be paid by Americans earning less than 300 percent of poverty ($66,150 for a family of four.)

Let's just call Obamacare the IRS Expansion Act of 2010.

No comments: