Here, you are urged and encouraged to run your mouths about something important.

Saturday, March 27, 2010


Quite the dilemma, isn't it. The IRS is beefing up its forces presumably to help enforce the new individual mandate that everyone have health insurance per the new bill. Considering that the law calls for penalties to be levied monthly, it would seem logical - despite the absurdity of the entire charade.

However, according to the Federal Joint Committee on Taxation, it appears there is no enforceable consequence for anyone who refuses to abide by the law.

Via Big Government, here is the relevant portion of the JCT report:
The use of liens and seizures otherwise authorized for collection of taxes does not apply to the collection of this penalty. Non-compliance with the personal responsibility requirement to have health coverage is not subject to criminal or civil penalties under the Code and interest does not accrue for failure to pay such assessments in a timely manner.
At first blush, this appears to be a laughable omission. On second blush, it could put the extermination of the insurance industry on the fast track. The other portion of this bill is that no one with pre-existing conditions will be denied care.

Sounds like a prescription for extinction in the insurance world.

Read it all.

No comments:

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