tag:blogger.com,1999:blog-17669835.post4273404601897498316..comments2023-09-28T03:05:12.121-07:00Comments on Terrance this is stupid stuff: Gordon's Obamacare Penalty FixT. D.http://www.blogger.com/profile/11952394767212085011noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-17669835.post-73886851335767384022013-10-03T22:30:07.769-07:002013-10-03T22:30:07.769-07:00Yes, wouldn't want any bad PR up front now, wo...Yes, wouldn't want any bad PR up front now, would we?T. D.https://www.blogger.com/profile/11952394767212085011noreply@blogger.comtag:blogger.com,1999:blog-17669835.post-44867597817510748202013-10-03T17:01:36.698-07:002013-10-03T17:01:36.698-07:00If I remember right there was a big to do about pe...<i>If I remember right there was a big to do about people being jailed for not signing up</i><br /><br />Good recall there, TD - they were going to criminalize failure to comply, then realized that part alone might derail things, so they went with a levy instead.MAX Redlinehttps://www.blogger.com/profile/12040240474444763721noreply@blogger.comtag:blogger.com,1999:blog-17669835.post-31935004950344750222013-10-02T21:16:14.059-07:002013-10-02T21:16:14.059-07:00Given the Obama administration contempt for laws a...Given the Obama administration contempt for laws against the political use of the IRS and a ton of other "oh, I changed my mind on enforcing" this or that law, you definitely bring a word to the wise, Max.<br /><br />If I remember right there was a big to do about people being jailed for not signing up (or not having sufficient funds to sign up) so they wanted something in the bill to derail that possibility.<br /><br />T. D.https://www.blogger.com/profile/11952394767212085011noreply@blogger.comtag:blogger.com,1999:blog-17669835.post-37285462691523703742013-10-02T18:06:24.208-07:002013-10-02T18:06:24.208-07:00Amusing. Yet, most people tend to look forward to ...Amusing. Yet, most people tend to look forward to getting a tax refund; they've been conditioned to do so.<br /><br />Apparently, this means that the only way that they can collect their penalty is through deduction from the refund. However, I remain wary.<br /><br />In my case, I have since the early 1980's adjusted thing such that I receive no refund (or a very small one, depending on how well I anticipated earnings); my view has always been that there is no reason for me to give them what amounts to an interest-free loan. And I've always itemized - prior to Packwood's "tax reform" legislation, there were many available deductions, and so I saved every receipt.<br /><br />Interest paid on credit cards and other loans were deductible, as were fuel taxes, among many others. I viewed it as a game: "They want my money; how much can I legally keep from them?"<br /><br />The annual deduction exercise informed my W-4 construction for the coming year. Good times.<br /><br />I remain wary because of the fact that, despite the wording, they've been quite clear that failure to pay for insurance in 2014 elicits a penalty of less than $100 or 1% of gross pay, whichever is higher. And in succeeding years, the penalties escalate. Somehow, I suspect that they have every intention of exacting those penalties.<br /><br />Given the contempt for law that this administration has repeatedly demonstrated, I've no confidence in their willingness to adhere to a new law.MAX Redlinehttps://www.blogger.com/profile/12040240474444763721noreply@blogger.com