Democrats' Health Bill: Buy Insurance or Go To Jail
The Democrats' bill that will be voted on in the House tomorrow says a family of four either needs to buy insurance for $15,000 per year, pay a penalty tax of 2.5% of income or face a penalty of up to $250,000 and/or imprisonment of up to five years. This should be popular.
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?H.R. 3962 provides that an individual (or a husband and wife in the case of a joint return) who does not, at any time during the taxable year, maintain acceptable health insurance coverage for himself or herself and each of his or her qualifying children is subject to an additional tax.? [page 1]
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?If the government determines that the taxpayer?s unpaid tax liability results from willful behavior, the following penalties could apply?? [page 2]
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?Criminal penalties
Prosecution is authorized under the Code for a variety of offenses. Depending on the level of the noncompliance, the following penalties could apply to an individual:
? Section 7203 ? misdemeanor willful failure to pay is punishable by a fine of up to $25,000 and/or imprisonment of up to one year.
? Section 7201 ? felony willful evasion is punishable by a fine of up to $250,000 and/or imprisonment of up to five years.? [page 3]
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According to the Congressional Budget Office the lowest cost family non-group plan under the Speaker?s bill would cost $15,000 in 2016.
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http://biggovernment.com/2009/11/06/...or-go-to-jail/
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